Dialight Share News (DIA)

Light emitting diode (LED) technology company Dialight, which upgraded full year profits guidance on 8 July, remained in bullish mood after announcing strong interim results."Despite the potential for a softer second half for Indication Components, the momentum in Signals/Illumination is growing driven by the prospect of significant benefits to our customers as they adopt our LED products. Our strategy of penetrating sizeable and regulated niche markets where LEDs can bring value for our customers today continues to demonstrate success allied with superior technical and operational performance," the company said. Revenue in the first half of the year surged to £46.17m from £34.63m in the first six months of 2009, while profit before tax leapt to £5.28m from £0.53m the year before.The Signals and Illumination division, the group's key growth segment, grew revenue by 23% while sales in the LED Indication division rebounded strongly with sales more than 50% higher than in the depressed market seen in the first half of last year.The Electromagnetic Disconnect division, which focuses on the US smart metering market, "remains an exciting prospect for Dialight with the potential for high growth, albeit with margins that are thinner than the other segments of our business," the company said.The interim dividend has been ramped up to 2.8p from 2.3p the year before.