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LED maker Dialight warns on profit hit by trade wars

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By Reuters

(Reuters) – Lights manufacturer Dialight Plc <DIAL.L> on Tuesday warned on its annual operating profit for the year, hit by the Sino-U.S. trade spat which has led to uncertainty around the timing of orders from its customers.

The LED lights maker expects its 2019 earnings before interest and taxes (EBIT) to be between 5 million pounds ($6.48 million) and 8 million pounds, after adjusting for some costs. It reported EBIT of 8 million pounds last year.

The company, which also supplies traffic lights, said the market for that division remained weak and does not expect it to recover until the second half of 2020.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Shailesh Kuber)