Dialight ups divi despite profits dive

27th Jul 2009 14:58

Revenues at LED technology specialist Dialight were flat in the first half of 2009 at £34.6m while profit before tax tumbled to £0.53m from £2.14m a year earlier, despite beneficial currency tailwinds. At 2008 exchange rates, revenue would have been £28.2m.At the end of June the company had a cash balance of £7m, up from £4.1m at the end of 2008 and from £3.5m at the end of June 2008.The interim dividend has been increased by 10% to 2.3p from 2.1p a year earlier. "Although we expect only modest improvement in our Indication business, the recently announced contracts for Obstruction Lighting and Meter Disconnects supported by the strong opening orders for European Traffic, lend support to significantly improved prospects for the second half of the year," said Roy Burton, president and chief executive officer of Dialight. "We also confidently expect accelerated adoption of our strategically important white lighting products.," Burton added.