Dialight plc (LSE: DIA.L), the global leader in sustainable LED lighting for industrial applications, announces its audited preliminary results for the 15-month period ended 31 March 2024.
| Financial summary | 15-months ended 31 March 2024
US $’m |
12-months ended 31 December 2022
US $’m |
| Revenue | 226.0 | 209.8 |
| Underlying (loss)/profit from operating activities | (4.6) | 6.1 |
| (Loss)/profit from operating activities | (30.2) | 2.8 |
| (Loss)/profit after tax | (32.5) | 0.5 |
| Statutory (loss)/profit per share – diluted | (91.1) cents | 1.5 cents |
| Pre-IFRS16 Net debt | (16.4) | (25.4) |
Key points
- Group revenue for the 15-month period to 31 March 2024 was US $226.0m.
- Underlying gross margin dropped slightly to 31.0% versus 32.1% in the previous period reflecting a combination of labour and materials inflation.
- Underlying operating loss of US $4.6m for the 15-month period to 31 March 2024
- Non-underlying costs of US $25.6m compromise costs relating to the transformation plan (US $4.5m), impairment of goodwill (US $11.2m), impairment of other intangible assets (US $4.1m), business disposal costs (US $3.5m), and litigation costs (US $2.3m).
- Net debt of US $16.4m after raising US $12.0m net proceeds from an equity issue completed in October 2023
- Completed on the disposal of the Traffic business in July 2024 realising gross cash proceeds of US $5.8m
- Over the last five months, refocused the business in alignment with the core values that the leadership team have collaboratively developed
- Positive momentum within the business moving forward with alignment and support to the strategy
Full year results presentation
The Annual Report & Accounts for the 15-month period ended 31 March 2024 audited preliminary results presentation can be found at: https://www.dialight.com/ir/reports-news.