2nd Mar 2015 09:41
LONDON (Alliance News) - LED technology supplier Dialight PLC on Monday saw its shares push higher after it reported a rise in pretax profit in 2014 as revenue was driven higher by a strong performance in its lighting segment.
Pretax profit rose to GBP15.5 million from GBP11.2 million for the year, driven by a rise in revenue to GBP159.8 million from GBP131.2 million in 2013.
Revenue from the lighting segment, which contributes around two-thirds of Dialight's turnover, was up to GBP99.9 million from GBP68.5 million last year. That offset a fall in revenue from its signals business to GBP40.2 million from GBP41.8 million, hit by falling sales of traffic signals.
Components revenue also fell, down to GBP19.7 million from GBP20.9 million.
The company said it would pay a final dividend of 9.8 pence, making its total dividends for the year 15 pence per share, against 14.4 pence last year.
"The adoption of LED lighting in the industrial and hazardous markets is still at an early stage and the opportunity for growth remains significant. We continue to see strong demand for our LED lighting and the board remains confident in the future prospects of the group," said Dialight Chief Executive Richard Stuckes.
Dialight shares were up 8.8% to 719.00 pence Monday morning, one of the best performers in the FTSE All-Share.
By Sam Unsted; [email protected]; @SamUAtAlliance
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