StockMarketWire.com - Dialight expects EBIT for the year to the end of December to be in the range of £13.5m to £15.5m due to short-term production challenges.

The group said that since its interim results, it had successfully launched the upgraded Area Light and High Bay Product Lines.

In addition, it completed the transfer of production for these products to its manufacturing partner.

An update said: 'We added significant technology upgrades in our two largest product lines: Area Light and High Bay.

'These exciting products give us a broader base to our offering and provide our customers with the next generation of features, including greater energy efficiency, global certification and controls capability.

'We are optimistic about the prospects for customer take-up for these product lines in our next financial year and beyond.

'We expect to end the current financial year with a strong net cash position and the board is considering reinstating dividend payments.

'Any decision on the level of a proposed final dividend for the year ending 31 Dec 2017, will be made when finalising the year-end results, which are expected to be released on 26 Feb 2018.'

Group chief executive Michael Sutsko said: 'The board has ambitious plans for the Group, both in terms of the significant transition of our capabilities and for future growth.

'Our outsourced manufacturing challenges are disappointing but are being addressed over the coming months.

'Our significant new product launches and the benefits they offer our customers as they migrate to LED lighting continue to give us considerable optimism for the future growth of Dialight.'




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