Dialight shares rise on profit surge

City A.M. Reporter
Dialight’s shares have risen 7 per cent after the lighting products maker reported a 21 per cent increase in operating profit for the first half, and forecasts full-year results at the higher end of market expectations.

"Dialight has again confirmed a confident outlook for FY12, on the back of revenue wins," Peel Hunt analyst Andrew Shepherd-Barron, who has a "buy" rating on the stock, says.

The stock outperforms a fall of 1.8 per cent on the FTSE mid-cap index amid strong activity, with some 70 per cent of the 90-day average daily volumes in Dialight changing hands in morning trading.