Dialight plc (LON:DIA), the global leader in LED lighting for heavy industrial applications, has, ahead of its annual general meeting to be held at 16.30 today, provided a trading update for the period from 1 January to 30 April 2023.
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.
Dialight will publish its results for the six months ending 30 June 2023, on 31 July 2023.
