Dialight loses lustre after warning

Shares in the LED lighting business Dialight plunged by 17 per cent to 700p yesterday after the firm warned its full-year profits would be lower than expected. Despite industrial lighting sales rising by 50 per cent in the last year, Dialight has more than halved its cashflow at £7m and now expects profit before tax to be not less than £14.5m – compared with last year’s £19.7m, after delays in receiving almost £3m of orders.