Lighting, signalling and electronics group Dialight expressed confidence for a 'continued strong performance in 2013' in a trading update on Thursday morning.
The firm's Lighting division grew revenues by over 70% year-on-year in 2012, with second-half sales rising by almost 80%, driven by the adoption of LED-based Lighting products.
Dialight commented: "Our sales force has more than doubled versus the prior year and is expected to continue to grow strongly. Lighting sales growth has leveraged incremental Lighting segment contribution in excess of £10m for 2012 over 2011 and the overall profitability of the Lighting segment has quadrupled."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The company said that 2012 operating profit will be in line with expectations.
"The board's confidence in the group's prospects is supported by the strong performance in 2012. As a result of the successful execution of our strategy in selected Lighting markets we remain confident in a continued strong performance in 2013."
Net cash at the end of the year was nearly £15m, up from £13.7m at the end of 2011.
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
