Business
Interim Results
Interim Results.
About this update from Dialight Plc
[{"type":"text","content":"\n RNS Number : 0582A Dialight PLC 29 July 2008 \n \n\n\n\n\n\nDate:\n\n\nEmbargoed until 07.00 am, Tuesday 29 July 2008\n \n\n\n\n\nContacts:\n\n\nRoy Burton - Group Chief Executive \nCathy Buckley - Finance Director\nDialight PLC\nTel: 01480 447490 \n\n\n\n\n\nNeil Johnson\nCanaccord Adams Limited\nTel: 020 7050 6500\n\n\n\n\n\nAlistair Mackinnon-Musson \nNicola Savage\nHudson Sandler\nTel: 020 7796 4133\nEmail: [email protected]\n\n\n\n\n\nDIALIGHT PLC\n\nInterim results for the six months ended 30 June 2008\n\nDialight plc, the UK based leader in Applied LED Technology, today publishes its Interim results for the six months to 30 June 2008.\n\nDialight consists of two business segments:-\n \n\n- Signals/Illumination which includes Traffic and Rail Signals, Obstruction Lights and the new\n product area of Solid State Lighting\n \n- Components comprising Light Emitting Diode (“LED”) Indication Components and\n Electromagnetic Disconnects (‘smart’ meter disconnect switches)\n\n\nHighlights\n\n\nGroup sales up 20% on H1 2007 to £34.5m\n\n\n\n\n\nProfit before tax up 68% to £2.1m (2007: £1.3m)\n\n\n\n\n\nBasic Earnings per Share increased 68% to 4.2p (2007: 2.5p)\n\n\n\n\n\nSignals/IIlumination up 28% on H1 2007 in both Sales and Orders, driven by demand for energy efficient lighting solutions\n\n\n\n\n\nElectromagnetic Components sales up 18% on H1 2007 driven by increased demand in the US Advanced Meter Infrastructure market\n\n\n\n\n\nIndication Business disposal project suspended\n\n\n\n\n\nInterim Dividend increased by 10% to 2.1p (2007: 1.9p)\n\n\n \nChairman and Chief Executive's Statement\n\nFinancial Results\n\nWe are pleased to report on a period of significant progress and increasing growth, particularly in our key Signals/Illumination business.\n\nDriven by the increasing demand for energy efficiency and reduced carbon footprints, Group revenues for the six months ended 30 June 2008 increased by 20% to £34.5m (2007: £28.9m). Operating profit was up by 104% to £2.0m (2007: £1.0m) and profit before tax rose by 68% to £2.1m (2007: £1.3m). Basic earnings per share increased to 4.2p from 2.5p in 2007.\n\nThe Group has generated net cash inflows from operations of £2.3m (2007: £3.5m) representing 116% (2007: 35...