Last checked at 13 Nov 2008 07:00
| Date: | Embargoed until 07.00 am, Thursday 13 November 2008 |
| Contacts: | Roy Burton - Group Chief Executive Cathy Buckley - Finance Director Dialight PLC Tel: 01480 447490 |
| Christopher Theis Canaccord Adams Limited Tel: 020 7050 6500 | |
| Alistair Mackinnon-Musson Nathan Field Hudson Sandler Tel: 020 7796 4133 Email: dialight@hspr.com |
DIALIGHT PLC
Interim Management Statement
Dialight plc, the UK based leader in Applied LED Technology, today publishes its Interim Management Statement relating to the period from 1 July, 2008.
Dialight consists of two business segments:-
|
| Signals/Illumination which includes Traffic and Rail Signals, Obstruction Lights and the new product area of Solid State Lighting |
| Components comprising Light Emitting Diode ("LED") Indication Components and Electromagnetic Disconnects ('smart' meter disconnect switches) |
Highlights
| • | Overall trading in line with the Board's expectations despite adverse world economics |
| • | Orders for Signals/ Illumination continue to show double digit growth |
| • | Growth strategy performing at or above expectations in the Signals/Illumination segment |
| • | Indication business within Components reflecting the effect of the economic downturn |
| • | Margins stable in spite of inflationary pressure |
| • | Group maintains strong Balance Sheet and positive Operating Cash Flow |
Current trading
Dialight's strategy of driving growth through the provision of energy efficient and environmentally friendly lighting products continues to play out in the second half of the year.
Orders for the Signals/Illumination segment continue to grow at double digit rates and as previously reported, our European Traffic Light operation is showing significant growth.
In the Obstruction Lighting Business, sales into the North American Wind Turbine Market and the adoption of our new White Strobe technology are fuelling continued success.
Illumination, and in particular white light, is performing according to plan and sales of our Safesite Hazardous Location Light are encouraging.
In line with the current downturn in the world's economies, orders for our LED Indication product lines are down in the order of 10%, compared to the first half. The impact of this slowdown has been offset by the strong performance of other parts of the Group and by the strengthening of the US Dollar.
In summary, the continued good progress in the Signals/Illumination segment gives the Board confidence in maintaining its current outlook on trading for 2008.
NotesThis Interim Management Statement contains certain forward-looking statements which have been made by the Directors in good faith using information available up until the date they approved the statement. Forward-looking statements should be regarded with caution as by their nature such statements involve risk and uncertainties relating to events and circumstances that may occur in the future. Actual results may differ from those expressed in such statements, depending on the outcome of these uncertain future events.
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