Business
AGM Trading Update
AGM Trading Update.
About this update from Dialight Plc
[{"type":"text","content":"\n\nDialight plc\n(\"Dialight\" or the \"Group\")\n \nAGM trading update - expectations unchanged\n \n \nAhead 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\").\n \nCurrent trading and outlook\n \nLighting 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.\n \nWe 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.\n \nThe Group will publish its results for the six months ending 30 June 2023, on 31 July 2023.\n \n \nContacts: \nDialight plc\nTel: +44 (0)203 058 3542\nFariyal Khanbabi - Group Chief Executive\nClive Jennings - Chief Financial Officer\n \nAbout Dialight:\nDialight (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 U...