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Dialight losses widen in H1 as Covid-19 impact dims demand

By BFN News | 08:51 AM | Monday 03 August, 2020


LED lighting supplier Dialight reported wider first-half losses owing to a coronavirus-led fall in revenue. For the period ended 30 June 2020, pre-tax losses widened to £6m from £3.8m on-year as revenue fell to £56.3m from £76.1m. The wider losses reflected 'lower revenue and includes £3.6m of COVID-19 related costs, offset by £1.8m of cost savings,' the company said. Looking ahead, the company said COVID-19 would likely continue to impact demand, and forecast fiscal 2020 net debt to be at a similar level to FY 2019. 'As we enter H2 2020, we have seen an improvement in quoting activity but it is too early to tell whether this is sustainable and there are a range of possible outcomes for the full year,' the company said. At 8:51am: (LON:DIA) Dialight PLC share price was -21.5p at 298.5p Story provided by StockMarketWire.com

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