Dialight (DIA)

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23-Oct-2017 – 815p – £265m

Trading Update – Argggghhh! EBIT will be in the range of £13.5 to £15.5m for the year ending December 2017. Don’t have time to go check what it should have been but at least the way it was worded gives me a clue “due to short-term production challenges, we now expect EBIT for the year ending 31 December 2017 to be in the range of £13.5m to £15.5m”.

How much of a profit warning this last update is – I have no idea. I am not getting involved.

8-Jan-2018 – 550p – £178.9m – PER 19.9

Trading Update – Chief Exec has been replaced. Expecting Revenue of £181m and EBIT of £9.7m this year, Cash of £12.8m.

These estimates are even lower than the woeful ones issued previously. It remains on my Avoid list for now.

26-Feb-2018 – 532p – £173.0m – PER 16.7

Final Results For The 12 Months To End December 2017 – Underwhelming.

Remains on my Avoid list.

17-Apr-2018 – 524p – £171.1m – PER 15.4

Trading Update For The 12 Months To End December 2018 – Not sure what this means but it doesn’t seem very positive.

Anyway, it will remain on my Avoid list for now.

30-Jul-2018 – 466p – £151.5m – PER 12.9

Interim Results For The 6 Months To End June 2018 – Revenue down from £92.7m to £80.1m with Underlying (and Statutory) Profit and EPS both halved to £2.8m and 6.4p respectively. Net Cash is down from £12.7m to £7.3m. As previously guided, FY results will be heavily H2 weighted.

Remains on my Avoid list for now.

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