REG - Dialight PLC - AGM Trading Update

DialightAnnouncement

16/05/2023 07:00

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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 (http://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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