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SARINE TECHNOLOGIES LTD U77.SI Sarine Technologies (SARINE SP) - Another Step Forward
Missed but recovery growth intact. Maintain BUY
- Sarine continued to recover as 1Q16 net profit surged 240% YoY and 101% QoQ to USD3m, but was below our USD4-5m expectation.
- Nevertheless, Sarine could have met our estimate with just an incremental USD1.5- 2.0m in revenue due to operating leverage.
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