Sarine Technologies Ltd announced its financial results for 2014, reporting a strong performance during the year with revenues rising 15% to US$ 87.8 million and Net Profit up by 14% to US$ 27.2 million. Growth was bolstered by increased GalaxyTM family related recurring income and higher sales of rough diamond planning and processing products, the company said in a statement.

Recurring income from GalaxyTM family systems accounted for over 35% of FY2014 group revenue, with the total number of such systems now installed reaching 190, of which 48 were installed in 2014 itself, Sarine said.

Uzi Levami, Sarine's Chief Executive Officer said that these results were achieved despite a challenging operating environment where “the diamond manufacturing industry in India is still experiencing liquidity issues” and “the decoupling of rough and polished diamond prices intensified”.  However he added that “the continuation of these headwinds into 2015 will affect our business activities in the immediate term”.

The Group anticipates some correction in prices of rough in the early part of this year, and remains optimistic about the “growth momentum”.

In FY2015, the Group will introduce Sarine ProfileTM, which “utilises all the benefits of Sarine’s diverse cutting-edge technologies to ‘show and tell’ the stone with graphic and video displays on a concise ‘page’, rather than simply present a dry tabular non-intuitive report’.

Also in the pipeline is the AllegroTM system, which processes pre-formed gemstones (not diamonds) and transforms the rough stone directly into a fully shaped (unfinished) gem, providing extremely accurately sized stones, with minimal unnecessary weight loss, at high throughput and without human error. There will be a beta-rollout in Q2 2015 with commercialisation of the new system expected in late 2015 or early 2016, the statement said.