Dialight increases 2014 interim dividend by 6.1%

DividendMax Ltd.

Dialight increases 2014 interim dividend by 6.1%

Lighting revenue increased 46% (53% at constant currency) to £43.0m (H1 2013: £29.3m)

Lighting operating profit up 60% to £7.1m (H1 2013: £4.4m)

Underlying operating profit increased 18% (26% at constant currency) to £6.5m (H1 2013: £5.5m)

Statutory operating profit increased 7% to £5.4m (H1 2013: £5.1m)

Underlying earnings per share 14.2p (H1 2013: 11.6p)

Closing net cash £2.8m (31 December 2013: £7.1m) with new £25m 4-year committed bank facility signed

Interim dividend increased 6.1% to 5.2p (H1 2013: 4.9p)

Roy Burton, Group Chief Executive, said:

"Our continued focus on addressing the LED lighting needs of the hazardous and heavy industrial markets has produced considerable growth in both sales and underlying operating profits. This is a very significant market where our sales have been very strong but the market penetration is still limited. The opportunity for growth is substantial and the Board remains confident that the Group is well positioned to capitalise on this opportunity.

For the current year the Group continues to trade in line with the Board's expectations despite the continuing currency headwinds."

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