Business
Half year results
Half year results.
About this update from Dialight Plc
[{"type":"text","content":"\n \nRNS Number : 0718W Dialight PLC 30 July 2018 \n\nDialight plc \n(\"Dialight\" or \"the Group\")\n \nHalf year results 2018 \n \nDialight plc (LSE: DIA.L), the global leader in sustainable LED lighting for industrial applications, announces its half year results for the six months ended 30 June 2018.\n \n\n\n\n\n \n\n\nH1 2018\n£m\n\n\nH1 2017\n£m\n\n\n\n\nRevenue \n\n\n80.1\n\n\n92.7\n\n\n\n\nUnderlying1 profit from operating activities\n\n\n2.9\n\n\n6.5\n\n\n\n\nUnderlying1 profit before tax\n\n\n2.8\n\n\n6.4\n\n\n\n\nUnderlying basic EPS\n\n\n6.4p\n\n\n12.8p\n\n\n\n\nNon underlying costs\n \n\n\n-\n\n\n(2.4)\n\n\n\n\nStatutory profit from operating activities\nStatutory profit before tax\n\n\n2.9\n2.8\n\n\n4.1\n4.0\n\n\n\n\nStatutory EPS\n\n\n6.4p\n\n\n8.0p\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\nNet cash\n\n\n7.3\n\n\n12.7\n\n\n\n\n \n\n\n \n\n\n \n\n\n\n\n \n\n\n\n\nKey points\n\n\n· Operational improvements; confidence in H2 \n· High Bay production commenced in our Mexico and Malaysia facilities; reliance on manufacturing partner reducing\n· European, Australian Lighting revenues and orders increased; US declined though good recovery expected in H2 2018\n\n\n\n\n \nMarty Rapp, Group Chief Executive, said:\n\"We have taken targeted actions to improve our operational performance, reducing late orders significantly since the start of the year. This improvement is primarily due to moving an increasing proportion of our product assembly back in-house. On-time delivery and cost performance of our internal assembly are both excellent. I am now confident that as we move toward our traditionally heavy fourth quarter we will be able to deliver our products on time and in the quantities needed. As previously guided, our results for 2018 will be heavily weighted to H2 reflecting the continued resolution of our operational issues.\nOur market proposition remains compelling with the sustainability benefits of reduced energy usage, lower carbon emissions, reduced maintenance and improved safety offering real value to our customers. We are now resuming a more aggressive approach to delivering growth, as we transition from recovery to growth. We remain excited by the Gro...