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Annual Results

Dialight underlying profits rise

27 February 2017 07:42

Dialight posts underlying operating profits of £13.1m for the year to the end of December - up from £6.1m in 2015.

Revenues of £182.2m were up by 13% (2% at constant currency) while order intake for the lighting division was up 8% at constant currency.

The statutory pre-tax loss of £3.8m was down from £3.9m last time.

Group chief executive Michael Sutsko said: "2016 was a year of change for Dialight. We are making good progress with our three-year plan to return to sustainable profit growth.

"Phase one of the plan, to rebuild our operating model, is largely complete. The sustainability benefits of reduced energy usage, lower carbon emissions, reduced maintenance and improved safety offer real value to our customers. This progress underpinned our encouraging financial performance in challenging market conditions.

"Phase two of the plan - growth initiatives to capture the long-term opportunity in LED lighting - is underway, and on track to deliver against our strategic plan.

"We remain confident of the Group's prospects for 2017 and over the medium to long-term, based on current FX rates."

Story provided by StockMarketWire.com

Related Company: DIA

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