Dialight plc quoting activity significantly increased with greater number of capex projects

Dialight Plc

Dialight plc (LON:DIA), 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.

Dialight state its 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.

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