Dialight saw operating profit soar to £5.3 million from £0.6 million at the first half stage and saw EPS increase to 10.8p. The company announced a rise in the dividend to 2.8p from 2.3p in the samer period last year.
Revenue in Signals/Illumination rose by 23%, underpinned by 60% growth in both Obstruction and White Industrial Lights. Dialight is aiming to capitalise on improvements in LED technology in these market segments. Whte LED strobe technology for use in the North American Telecommunications market has helped drive growth in this area. In Obstruction lighting, the acquisition of BTI Light Systems A/S earlier this year gives the company an entry point into the European wind turbine maket, for both onshore and offshore wind applications.
LED traffic light sales grew by 15%, despite flat sales in the US. Europe is driving growth in this market segment, although there are some uncertainties surounding budget cuts by governments in the short term.
Dialight sees the US Smart Metering market as an exciting prospect.
Overall, the second half is expected to be softer in some segments, but performance should be underpinned by the strong momentum in Signals/Illumination. Management remain confident on overall prospects for 2010. Longer term, ultra efficient signals and lighting products are expected to drive growth.
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