Dialight PLC Trading Statement (9915H)
December 09 2020 - 1:00AM
UK Regulatory
TIDMDIA
RNS Number : 9915H
Dialight PLC
09 December 2020
Dialight Plc
("Dialight" or "the Group")
Trading update
Dialight Plc (LSE: DIA.L), the global leader in LED lighting for
heavy industrial applications, today publishes a trading update
covering the period from 1 July to 30 November 2020 (the "Period").
The Group will report its full year results on 30 March 2021.
Current trading
Lighting MRO orders have steadily improved since April, as
expected, and in recent months there has been a modest recovery in
project work, despite challenging market conditions. Signals &
Components continued to perform well.
Our revenue in the period continued to be disrupted by COVID-19
due to the inability of some of our suppliers to provide components
on a timely basis. This has been compounded by the delays in the
freight market, resulting in production delays and temporarily
elevated costs in order to maintain supply. Additionally, we are
now operating our facility in Mexico with a 20% reduction in our
workforce due to the area having just been classified as a 'red
zone', and with certain employees unable to work in order to comply
with amended government guidelines.
Net debt on the 30 November was GBP14.9m, a GBP3.1m improvement
from the half year position. The improvement was driven by a
further reduction in inventory. We expect FY 2020 net debt to be at
a similar level to the position at the end of November.
We continue to focus on our employees, our customers, our
communities and delivering on our priorities including building the
sales pipeline, product development and optimising the operational
performance.
In the longer-term, the growth drivers of LED lighting and
sustainability are as strong as ever. The COVID-19 crisis is also
expected to accelerate the structural drivers for LED lighting and
our scale and innovation-led customer offering positions us well
and gives us confidence for the future.
Contacts:
Dialight plc
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Chief Executive
Wai Kuen Chiang - Group Finance Director
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, Mexico, Malaysia, Singapore, Australia, Germany and Dubai.
www.dialight.com . 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.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTEAEAPELKEFAA
(END) Dow Jones Newswires
December 09, 2020 02:00 ET (07:00 GMT)
Dialight (LSE:DIA)
Historical Stock Chart
From Apr 2024 to May 2024
Dialight (LSE:DIA)
Historical Stock Chart
From May 2023 to May 2024