Business
Full year results 2019
Full year results 2019.
About this update from Dialight Plc
[{"type":"text","content":"\n \n \n RNS Number : 1873G\n Dialight PLC\n 16 March 2020\n \n \n \n \n \n Dialight\n \n \n plc \n \n \n \n (\"Dialight\" or \"the Group\")\n \n \n \n \n \n Full year results 2019 \n \n \n \n \n \n Dialight plc (LSE: DIA.L), the global leader in sustainable LED lighting for industrial applications, announces its full year unaudited results for the year ended 31 December 2019.\n \n \n \n \n \n \n \n \n \n Financial summary\n \n \n \n \n 2019\n \n \n Unaudited\n \n \n £m\n \n \n \n \n 2018\n \n \n Audited\n \n \n £m\n \n \n \n \n \n \n Revenue \n \n \n \n \n 151.0\n \n \n \n \n 169.6\n \n \n \n \n \n \n Proforma unaudited operating profit1\n \n \n \n \n 5.2\n \n \n \n \n 8.0\n \n \n \n \n \n \n Proforma unaudited basic EPS\n \n \n \n \n 5.8p\n \n \n \n \n 17.3p\n \n \n \n \n \n \n Non-underlying costs and proforma unaudited costs\n \n \n \n \n 16.5\n \n \n \n \n 0.4\n \n \n \n \n \n \n Statutory (loss)/profit from operating activities\n \n \n \n \n (11.3)\n \n \n \n \n 7.6\n \n \n \n \n \n \n Statutory EPS - basic\n \n \n \n \n (49.8p)\n \n \n \n \n 16.4p\n \n \n \n \n \n \n Net (debt)/\n cash3\n \n \n \n \n (16.5)\n \n \n \n \n (2.9)\n \n \n \n \n \n \n \n \n \n Key points\n \n \n · \n Statutory loss for the period reflects substantial costs of exiting from our outsource manufacturer \n \n \n · \n FY 19 proforma operating profit2 within the guidance range \n \n \n · \n Operational footprint and performance materially improved \n \n \n · \n Sales recovery gaining momentum but challenging markets\n \n \n · \n Technological leadership remains strong with sustainability benefits to our customers even more relevant\n \n \n · \n Strengthened product development\n \n \n \n Fariyal Khanbabi, Group Chief Executive, said:\n \n \n \"From a financial perspective 2019 was disappointing, in large part due to the significant costs (£10.2m) associated with exiting from our outsource manufacturer, as previously highlighted. However, we continued to make investments in operations and new products (£12.8m) to better position us for future growth. Our operations in Mexico and Malaysia are now performing well and our product development continues at pace.\n \n \n Most of our end markets are likely to remain challenging short-term, exacerbated by the possible impacts of the COVID-19 virus. Nonetheless, in 2020 we c...