Dialight Reports Soaring LED Lighting Revenues for 1H14

Dialight plc ("Dialight" or the "Group"), the UK-based leader in applied LED technology, announces its unaudited results for the six months ended 30 June 2014.

Financial highlights (£'m)	H1 2014	H1 2013	Change	Change at constant currency
Group revenue	70.9	59.9	+18%	+25%
Group underlying operating profit	6.5	5.5	+18%	+26%
Lighting revenue	43.0	29.3	+46%	+53%
Lighting operating profit	7.1	4.4	+60%	+73%
Underlying EPS (p)	14.2	11.6	+22%	n/a
Interim dividend per share (p)	5.2	4.9	+6%	n/a
Net cash	2.8	11.2	n/a	n/a

Key points

Lighting revenue increased 46 percent (53 percent at constant currency) to £43.0 million (US $ 73.03 million)(H1 2013: £29.3 million)
Lighting operating profit up 60 percent to £7.1 million (H1 2013: £4.4 million)
Underlying operating profit increased 18% (26% at constant currency) to £6.5 million (H1 2013: £5.5 million)
Statutory operating profit increased 7 percent to £5.4 million (H1 2013: £5.1 million)
Underlying earnings per share 14.2p (H1 2013: 11.6p)
Closing net cash £2.8 million (31 December 2013: £7.1m) with new £25 million 4-year committed bank facility signed
Interim dividend increased 6.1 percent to 5.2p (H1 2013: 4.9p)

Roy Burton, Group Chief Executive, said:

"Our continued focus on addressing the LED lighting needs of the hazardous and heavy industrial markets has produced considerable growth in both sales and underlying operating profits. This is a very significant market where our sales have been very strong but the market penetration is still limited. The opportunity for growth is substantial and the Board remains confident that the Group is well positioned to capitalize on this opportunity.

For the current year the Group continues to trade in line with the Board's expectations despite the continuing currency headwinds." Please click here for full report.

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