Dialight, a specialist in LED lighting applications, reported total revenues of £77.3m for the year up to December 31st, down from £77.9m in the previous year.

While revenues were almost 25 per cent down in dollar terms - the company makes a third of its revenue the US - it suffered no erosion of prices or margins, which may suggest increasing strength in the LED lighting market.

Roy Burton, chief executive, said the continued re-engineering of Dialight's products had enabled the company to win contracts, with LED warning lights proving particularly popular.

The overall weight of the white LED strobe lights, placed as warnings on communication towers, had been reduced by 75 per cent to 10 kg.

Dialight also specialises in other forms of outdoor lighting, such as its new StreetSENSE LED street light, which the company claims will provide an energy-efficient alternative to the more traditional street lights.