Dialight IMS

Supplier of light emitting diode (LED) solutions for industrial users. Applying leading edge LED technology, it produces retro-fittable lighting fixtures designed specifically for hazardous locations, obstruction signals and traffic signalling.  I have a holding in my growth portfolio(epic code: DIA). 

Dialight issued an interim management statement today that essentially confirmed expectations of underlying profit for 2013 in line with last year.

Other new points of note are that the Industrial Lighting business grew by just under 60% for the 10 months and they are on target to increase the sales force of the Industrial Lighting business from 59 at the end of last year to 100 by December 2013.  They have consumed £10.2m of cash since the interim stage, which is due to additional inventory levels that they state will be reduced by the year-end.

They make a comment in the final paragraph of the statement which states "...As ever the precise timing of Industrial Lighting orders remains difficult to predict..." which is rather different to the statement at the half-year stage which was also repeated in their September trading statement of "...The timing of the award of major Obstruction system contracts remains difficult to predict...".  I may be reading too much into the change of language and it is probably a slip, but caused me a moments thought that they were concerned about order intake over the last couple of months for both Signals (with current lower order intake)  & Lighting.