StockMarketWire.com - Dialight swung to a half-yearly loss blaming weaker lighting revenues on some softening of end markets and delayed market share recovery.

For the six months ended June, the company reported a loss of £1.6m compared with a profit of £2m a year earlier as revenue fell to £76.1m from £77.7m.

Lighting revenue was 5% down at constant currency compared to a year earlier, though the company did make good operational and strategic progress in the first half, with the physical separation from its contract manufacturer now complete.

'Operational performance from our Mexico facilities is now significantly better than it was before the move to the contract manufacturer. Our new Penang facility is expected to be fully operational within the next two months,' the company said.

We remain confident that the combination of the reputation of Dialight products as the best in the market, our improved operational performance, and the launch of our exciting new products will result in significant long-term growth in revenue and profit. We are taking all appropriate actions to convert these to improved financial results as quickly as possible. Our full year outlook for 2019 remains unchanged."


At 8:54am: [LON:DIA] Dialight PLC share price was 0p at 390p



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