Business
Full Year results 2016
Full Year results 2016.
About this update from Dialight Plc
[{"type":"text","content":"\n \nRNS Number : 8419X Dialight PLC 27 February 2017 \n\n27 February 2017 \n \n \nDialight plc\n \nFull Year results 2016\n \nPositioned for long-term sustainable growth\n \nDialight plc (\"Dialight\" or \"the Group\"), the leading LED lighting technology company, today announces its Preliminary Results for the year ended 31 December 2016.\n \n\n\n\n\nFinancial highlights \n \n\n\n2016\n£m\n\n\n2015\n£m\n\n\n\n\nRevenue \n\n\n182.2\n\n\n161.4\n\n\n\n\nUnderlying gross profit \n\n\n69.5\n\n\n56.2\n\n\n\n\nUnderlying1 operating profit\n\n\n13.1\n\n\n6.1\n\n\n\n\nUnderlying1 basic EPS\n\n\n26.9p\n\n\n13.3p\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nStatutory loss from operating activities\n\n\n(3.3)\n\n\n(3.4)\n\n\n\n\nStatutory loss before tax\n\n\n(3.8)\n\n\n(3.9)\n\n\n\n\nStatutory EPS\n\n\n(8.4)p\n\n\n(6.4)p\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNet cash/(debt)\n\n\n8.0\n\n\n(3.8)\n\n\n\n\n \nProgress with plan to 'rebuild, lead and grow'\n· Rebuild phase largely complete\n· Growth initiatives underway\n‒ Higher quality sales teams with broader international presence\n‒ Three automation partnerships in progress, broadening our channels to market and value proposition\n· Investment in product roadmap: 37 new products launched \n· Revenues diversified, by sector and geography\n \nFinancial highlights\n· Revenue up 13% (2% at constant currency)\n· Lighting division order intake3 up 8% at constant currency\n· Underlying profit growth reflecting management action to reduce cost base and improve operating model\n‒ Profit in Lighting and Signals & Components grew by £6.7m and £2.2m respectively\n· Operating model changes reflected in non-underlying items charge of £16.4m; additional £2 - £3m final costs in 2017\n· Strong balance sheet supported by good working capital management and new five-year credit facility\n \n \nMic...