Light-emitting diode (LED) firm Dialight fell after it reported delays to a major contract had hit trading in its signal lighting division.
The firm said trading in that business, which sells obstruction, traffic and transportation products, was below expectations due to a hold-up in the award of a significant new contract for obstruction lighting.
However, it added that for 2013 the firm expected growth in this area to return to that of prior years.
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 statement, which covered the period from 1st July until 8th November, noted the Industrial Lighting segment of the company was performing in line with expectations as was its Components division.
"The group has seen strong worldwide order intake for lighting and the board is confident in the growth strategy for both Industrial Lighting and Signal Lighting, meeting expectations for 2012 and of continuing good progress into 2013," it said.
Shares were down 6.9% by 09.00 following the announcement.
-
Rents rise at slowest pace for four years – is buy-to-let still worth it?Slowing rental growth and higher property taxes are creating a headache for landlords. Does buy-to-let still offer a good yield?
-
Should you bag a bargain with a half-price investment trust?Twenty-six investment trusts look cheap by historic standards, with some trading at a discount of more than 50%. Are they a bargain or value trap?
