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HOME arrow Registration
Dialight to focus on signals business
Written by Sam Fountain   
Monday, 03 March 2008
ImageNews that applied LED technology firm, Dialight is looking toward streamlining its operations into a focused solid state lighting business has taken its shares up by five per cent, despite posting a 23 per cent drop in pre-tax profits for the year.

With the majority of its sales conducted with US companies, the Cambridge-based group has been hit hard by the weakness of the Dollar. As such, it said that pre-tax profits fell 23 per cent for the year to December, in line with market expectations.

The group reported pre-tax profits of £4.5m on revenues of £63.4m, down 23 per cent from the £5.3m it posted last time. It added that at constant currency rates, the sales decline dropped from 23 per cent to 15 per cent.

It said that group sales were up eight per cent at constant currency, buoyed by its signals/illumination segment, which saw sales increase by 17 per cent without including the Dollar's weakness.

Dialight consists of two business segments: its signals/illumination business, which includes traffic and rail signals, obstruction lights and the new product area of solid state lighting, and its components division, which comprises light emitting diode ("LED") indication components and 'smart' meter electromagnetic disconnect switches.

In light of the large disparity between the two segments over the year, which saw signals grow by 17 per cent while components dropped by six per cent, Dialight revealed that the company is looking at the option of divesting the underperforming segment in order to fund the rapid growth its solid state lighting business.

"The board believes that the divesture of the LED indication components business may be the most appropriate way to deliver value to shareholders from this part of the group and to assist the focus on the Solid State Lighting business," it said in a statement.

CEO, Roy Burton said that the company is confident of continued growth in its Signals/Illumination business with a growing pipeline of new products which complement its Safesite and White Strobe products, the newest version of which is showing strong acceptance in the market.

"The board is therefore confident that in 2008 and beyond, our strategy for growth in the Signals/Illumination market will show continued success following the double digit sales performance in 2007," said Burton.

Shares in the firm have climbed five per cent to 155p on the day, recouping some of the loss the company has seen this year.
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