Dialight Plc (DIA.L), an electronics business focused on light-emitting diode lighting for hazardous locations, on Tuesday reported profit before loss for the 15-month period to March 31, 2024.
The company said that the 15-month accounting period was adopted after the company observed that "..breaches of the covenants had and/or may have had occurred when also retrospectively applying finalized year-end accounting adjustments. These waiver requests were communicated to HSBC who have agreed to issue retrospective covenant waivers for the relevant quarters."
For the 15-month period, the company recorded a pre-tax loss of $34.3 million, versus a pre-tax income of $0.6 million for the 12-month period to December 31, 2022.
Net loss for the 15-month period stood at $32.5 million or 91.1 cents per share, compared with net profit was at $0.5 million or 1.5 cents per share for the 12-month period.
Loss from operating activities was $30.2 million, for the 15-month period, while profit from operating activities stood at $2.8 million, for the 12-month period.
Dialight recorded 15-month revenue of $226 million, while 12-month revenue stood at $209.8 million.
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