15th Apr 2015 07:54
LONDON (Alliance News) - LED lighting company Dialight PLC on Wednesday said revenue in the first quarter of 2015 exceeded its expectations and maintained its guidance for the full year as it outlined the initial findings from the business review it has undertaken.
Dialight said demand for its lighting products remained robust in the first quarter and revenue growth was ahead of management expectations. It said it remains encouraged by the strong demand for LED lighting and, though it expects operating profit to be weighted to the second half more than in previous years, its full-year expectations are unchanged.
Dialight also said the initial assessment of the business review undertaken by Interim Chief Executive Richard Stuckes and Finance Director Fariyal Khanbabi is that the development of its production infrastructure and processes will require more attention going forward. Dialight said it will be reviewing potential actions to take to improve the operational performance of the business over the course of 2015.
Shares in Dialight were down 4.5% to 759.40 pence on Wednesday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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