Business
Half-year results
Half-year results.
About this update from Dialight Plc
[{"type":"text","content":"\n \nRNS Number : 8193H Dialight PLC 05 August 2019 \n\nDialight plc \n(\"Dialight\" or \"the Group\")\n \nHalf year results 2019\n \nDialight plc (LSE: DIA.L), the global leader in sustainable LED lighting for industrial applications, announces its half year results (unaudited) for the six months ended 30 June 2019.\n \n\n\n\n\nFinancial summary\n\n\nH1 2019\n£m\n\n\nH1 2018\n£m\n\n\n\n\nRevenue \n\n\n76.1\n\n\n77.7\n\n\n\n\nUnderlying1 profit from operating activities\n\n\n0.9\n\n\n2.8\n\n\n\n\nUnderlying basic EPS\n\n\n1.5p\n\n\n6.4p\n\n\n\n\nNon-underlying costs\n \n\n\n(2.7)\n\n\n-\n\n\n\n\nStatutory (loss)/profit from operating activities\n\n\n(1.6)\n\n\n2.0\n\n\n\n\nStatutory EPS - basic\n\n\n(4.9)p\n\n\n6.1p\n\n\n\n\nNet (debt)/cash\n\n\n(11.0)\n\n\n7.3\n\n\n\n\n \nMarty Rapp, Group Chief Executive, said:\n\"Our H1 2019 financial results were disappointing. Lighting revenues were impacted by some softening of end markets and delayed market share recovery. However, we did make good operational and strategic progress in the first half, with the physical separation from our contract manufacturer now complete. Operational performance from our Mexico facilities is now significantly better than it was before the move to the contract manufacturer. Our new Penang facility is expected to be fully operational within the next two months. \n \nProgress on increasing our output of new products is on track. We have launched two of the three new platform-level products planned for 2019, and the third one will be launched shortly. There are additional new products in the development pipeline - a combination of upgrades to our existing products and new products to enable to us to participate in a larger market. \n \nWe remain confident that the combination of the reputation of Dialight products as the best in the market, our improved operational performance, and the launch of our exciting new products will result in significant long-term growth in revenue and profit. We are taking all appropriate actions to convert these to improved financial results as quickly as possible. Our full year outlook for 2019 remains unchanged.\"\n \nResults presentation:\nA presentation to analysts and investors will be held today at 09.00 BST at Investec, 30 Gresham Street, Lo...