Dialight rejects offers for electromagnetic division

Lighting technology company, Dialight plc, has said that it will not be selling its electromagnetic components business in this half of the financial year despite receiving a number of offers.

Dialight uses cutting edge LED technology to produce lighting fixtures designed specifically for hazardous and industrial locations such as mines and chemical plants.

The Newmarket-based company said it will continue to run its electromagnetic components division but has not ruled out the possibility of selling.

In its interim management statement covering the period between January 1 and April 18, Dialight said that it expects its greatest growth will be driven by white lighting, having already more than doubled sales of this technology in this quarter compared to the same time last year.

The company added that while growth will be waited to the second half of the year as in previous years, it is confident of meeting market expectations. Share price rose 4.3 per cent, up 45.0 pence to £10.90 a share.

 

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