Dialight plc (LON:DIA), the global leader in LED lighting for heavy industrial applications, has published the following trading and operational update.
Trading update
Demand trends and operating conditions in the Group’s end markets through the latter part of 2023 remained consistent with those we reported in the half year results announced in September 2023. Despite ongoing softness in a number of segments, the Group continued to take market share through benefitting from improved service and availability as a result of the actions taken over the previous 18 months.
Following a 9% reduction in H1 (down 13% at constant currency (“CCY”)), Group revenue for the full 12-month period to 31 December 2023 (the “Period”) reduced by 12% to £148.8m (down 12% at CCY). Lighting revenues were down 7% on a reported basis (CCY 6%) in the Period, with Signals & Components revenues down 25% (CCY 25%). Whilst Lighting revenue improved sequentially in the second six-months of the Period, Signals & Components sales were particularly impacted by weak trading within Opto Electronics. Order intake within the Lighting business for the 12-month period was down 2% on the prior period (CCY reduction of 2%) which represented a relative outperformance against industry-wide end market weakness, especially for capex projects.
