Dialight PLC AGM Trading Update (4846Z)
May 16 2023 - 1:00AM
UK Regulatory
TIDMDIA
RNS Number : 4846Z
Dialight PLC
16 May 2023
Dialight plc
("Dialight" or the "Group")
AGM trading update - expectations unchanged
Ahead of its annual general meeting to be held at 16.30 today,
Dialight plc (LSE: DIA.L), the global leader in LED lighting for
heavy industrial applications today provides a trading update for
the period from 1 January to 30 April 2023 (the "period").
Current trading and outlook
Lighting has seen continued strong Maintenance Repair and
Operations (MRO) demand, but the lower level of larger capex orders
seen during the final quarter of 2022 continued in the period.
Signals & Components revenue is lower than 2022, driven by
destocking in the channel as previously highlighted. Margins remain
under pressure due to component price inflation, but we are
renegotiating pricing with key suppliers where possible and have
identified a number of cost improvements that will take effect in
the second half. Our focus remains on delivering for our customers
despite supply chain disruption.
We remain mindful of the risk posed by the current economic
uncertainty, however our expectations for the year remain unchanged
with performance now more significantly weighted to the second
half. Longer term we remain confident of our prospects given our
leading sustainability products, growing market share and
significant market opportunity.
The Group will publish its results for the six months ending 30
June 2023, on 31 July 2023.
Contacts:
Dialight plc
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Chief Executive
Clive Jennings - Chief Financial Officer
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 Australia, Dubai, the EU,
Malaysia, Mexico, Singapore, the UK, and the USA . www.dialight.com .
Notes:
Cautionary Statement . This announcement may contain 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.
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END
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