Dialight warns of profits after order delays

8th Jan 2014 12:12

Shares in lighting specialist Dialight crashed more than 20 per cent after it revealed order delays in its industrial division and slower business from its traffic division would hit profits for 2013. The company said it now expected underlying profit before tax from continuing operations to be no less than £14.5m for the calendar year.While industrial lighting sales grew by 50% in the year, postponement of some orders and late receipt of almost £3m of others into 2014 would hit final numbers. What's more, while the reorganisation of the Obstruction business was expected to hit revenues and profits, this was compounded by the Traffic division in both the US and Europe suffering a £3m decline in sales on the prior year. Looking forward, the FTSE Small Cap group said that "with the Industrial Lighting market remaining buoyant and Dialight continuing to hold its market leading positions, the board remains confident of delivering renewed profitable growth in 2014 and beyond".Shares in Dialight were down 23% to 647.75p at 12:20 on Wednesday. OH