("Dialight" or "the Group")
Dialight plc (LSE: DIA.L), the global leader in LED lighting for heavy industrial applications today publishes a trading update for the period from 30 June to 31 October 2021. The full year results will be published on 28 March 2022.
Current trading and outlook
The Group has traded well in the period, quoting activity has significantly increased with a greater number of capex projects. Order intake year to date was up 34%, driven by a strong performance in the Lighting segment.
Due to widely publicised, market-wide supply chain issues, revenue growth has lagged order intake, due principally to the availability of electronic components and metal work. The Group has responded well to the supply chain challenges with active management to secure components and logistics and we have also implemented price increases from September to reflect increased costs from our suppliers. To ensure supply continuity, the Group has increased inventory levels and this has maintained acceptable on-time delivery levels. This has led to an increase in our full year net debt expectations, to a range of between £12 and £14 million.
Our expectations for the year remain unchanged. However, we remain mindful of the ongoing supply chain disruptions which may continue into 2022. Longer term we are increasingly confident of our prospects given our leading sustainability products and significant market opportunity.
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Chief Executive
Clive Jennings - Interim Chief Financial Officer
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.
Inside information. This announcement contains inside information on Dialight plc.
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.