Dialight PLC AGM Trading Update (3856W)
April 17 2019 - 1:00AM
UK Regulatory
TIDMDIA
RNS Number : 3856W
Dialight PLC
17 April 2019
This announcement contains inside information for the purposes
of article 7 of EU Regulation 596/2014
Dialight plc
("Dialight" or "the Group")
AGM trading update
Dialight plc (LSE: DIA.L), the global leader in LED lighting for
heavy industrial applications today publishes a trading update for
the current financial year, ahead of its Annual General Meeting
taking place later today.
Since the Group's full year 2018 results announcement on 25
February 2019, the Group has continued to focus on addressing its
operational issues. We have continued to make progress in our
recovery, including positive momentum in order intake and final
assembly output. All but two of our smaller product lines have
reached acceptable on-time delivery levels and all are expected to
be fully recovered by the end of H1 2019. Our exit from our former
manufacturing partner is ongoing and we expect this to be completed
by the end of H1 2019.
We have continued to execute on our strategy to address an
expanded industrial LED market by increasing our capacity to
develop new products, with the first of the new products targeting
an expanded market expected to launch in May 2019.
Our global end markets continue to be robust and we are
increasingly well positioned to recover and grow. The Board's
expectations of further progress in 2019 remain unchanged, with the
Group's results to be heavily weighted to H2, reflecting both the
ongoing resolution of our operational issues and normal industry
seasonality.
The Group's half year results announcement for the half year
ending 30 June 2019 will be released on 5 August 2019.
Contacts:
Dialight Plc
Tel: +44 (0)203 058 3542
Marty Rapp - Group Chief Executive
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Finance Director
MHP Communications
Tel: +44 (0)20 3128 8570
Tim Rowntree
Person responsible:
The person responsible for arranging the release of this
announcement on behalf of Dialight is Fariyal Khanbabi.
About Dialight:
Dialight (LSE: DIA.L) is a global leader in sustainable LED
lighting for industrial applications. Dialight's LED products are
providing the next generation of lighting solutions that deliver
reduced energy consumption and create a safer working environment.
Our products are specifically designed to provide superior
operational performance, reliability and durability, reducing
energy consumption and ongoing maintenance and achieving a rapid
return on investment.
The company is headquartered in the UK with operations in the
USA, UK, Denmark, Germany, Malaysia, Singapore, Australia, Mexico,
Dubai and Brazil. www.dialight.com.
Notes:
Cautionary Statement: This announcement contains certain
statements, statistics and projections that are or may be
forward-looking. The accuracy and completeness of all such
statements, including, without limitation, statements regarding the
future financial position, strategy, projected costs, plans and
objectives for the management of future operations of Dialight Plc
and its subsidiaries is not warranted or guaranteed. These
statements typically contain words such as 'intends', 'expects',
'anticipated', 'estimates' and words of similar import. By their
nature, forward-looking statements involve risk and uncertainty
because they relate to events and depend on circumstances that will
occur in the future. Although Dialight Plc believes that the
expectations will prove to be correct. There are a number of
factors, many of which are beyond the control of Dialight Plc,
which could cause actual results and developments to differ
materially from those expressed or implied by such forward-looking
statements. This announcement contains inside information on
Dialight Plc.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
AGMIFMJTMBTBBRL
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