Thursday, 12 September 2013

Dialight - Portfolio Sale

Dialight have today issued a further warning on profits for the year and say :

"Since the interim results, the Group has announced one contract for Obstruction Systems and has made good progress towards qualification and award of other significant Obstruction System business. However, the Group does not expect these contracts to be awarded in time to sufficiently impact the current financial year. This is likely to negatively affect the Group's expectations for overall financial performance in 2013."

They issued a similar caution at the time of announcing half year results in June (see update). A more reassuring statement followed last month (further update) so I am a little disturbed to see this warning on profits so soon after the August trading statement.

I have had a good run with Dialight over the past 3 years, and I may return to it again at a later time, but for now I am a little nervous there may be further bad news and corresponding share price weakness. 

I have decided to take profits - sale @ £11.74 (the proceeds may be needed in any event in connection with a pending house move). 

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