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Dialight narrows annual losses on cost cuts
StockMarketWire.com
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LED lighting supplier Dialight cut its annual losses as cost cuts helped offset a fall in revenue.
For the year ended 31 December 2020, pre-tax losses narrowed to £10.1 million from £12.5 million year-on-year, while revenue fell to £119 million from £151 million.
The company said £6.0 million of COVID-19 related costs were offset by £5.1m of cost savings.
'We are experiencing an increase in quoting activity early in the year and while the group will continue to be impacted by COVID-19 during 2021 and will take steps to mitigate to the extent possible, we see a range of profitable outcomes for the full year,' the company said.
At 10:00am: (LON:DIA) Dialight PLC share price was 0p at 264p
Story provided by StockMarketWire.com
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