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Dialight Releases Half-Year Financial Results

Dialight Releases Half-Year Financial Results

Dialight plc (LSE: DIA.L), a leader in sustainable LED lighting for industrial applications, announces its half-year results (unaudited) for the six months ended 30 June 2019.

Marty Rapp, Group Chief Executive, said:

“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.

Progress 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 us to participate in a larger market.

We 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.”

Results presentation: A presentation to analysts and investors will be held today at 09.00 BST at Investec, 30 Gresham Street, London EC2V 7QP, United Kingdom. The presentation and an audiocast will be made available on the company’s website, www.dialight.com.

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