Morning all!
Dialight ( £DIA ) – 390p – £127m – PER 12
Interim Results For The 6 Months To End June 2019 – Revenue down slightly with Underlying Profit down from £2.8m to £0.9m and EPS down from 6.4p to 1.5p, Net Cash has moved from £7.3m to Net Debt of £11m. FY outlook remains unchanged. The Chairman has also stepped down “Wayne Edmunds has indicated to the Board that now is an appropriate time for him to step down as Chairman of the Board. The Board has accepted his decision and wishes to place on record its thanks for his contribution to Dialight” and been replaced today.
Remains on my Avoid list until I at least see the FY actuals for this “accident prone” business.
As always, all comment most welcome!
