Dialight PLC Trading Update (2649U)
23 October 2017 - 5:00PM
UK Regulatory
TIDMDIA
RNS Number : 2649U
Dialight PLC
23 October 2017
23 October 2017
Dialight plc
("Dialight" or the "Group")
Update
Dialight, the world's leading industrial LED lighting technology
company, today publishes an update on its strategic initiatives and
outlook.
Summary
Since the Group announced its interim results, it has
successfully launched the upgraded Area Light and High Bay Product
Lines. In addition, we completed the transfer of production for
these products to our manufacturing partner. However, due to
short-term production challenges, we now expect EBIT for the year
ending 31 December 2017 to be in the range of GBP13.5m to
GBP15.5m.
Outlook
We added significant technology upgrades in our two largest
product lines: Area Light and High Bay. These exciting products
give us a broader base to our offering and provide our customers
with the next generation of features, including greater energy
efficiency, global certification and controls capability. We are
optimistic about the prospects for customer take-up for these
product lines in our next financial year and beyond.
We expect to end the current financial year with a strong net
cash position and the Board is considering reinstating dividend
payments. Any decision on the level of a proposed final dividend
for the year ending 31 December 2017, will be made when finalising
the year-end results, which are expected to be released on 26
February 2018.
Michael Sutsko, Group Chief Executive, said:
"The Board has ambitious plans for the Group, both in terms of
the significant transition of our capabilities and for future
growth. Our outsourced manufacturing challenges are disappointing
but are being addressed over the coming months. Our significant new
product launches and the benefits they offer our customers as they
migrate to LED lighting continue to give us considerable optimism
for the future growth of Dialight."
Contacts:
Dialight Plc
Michael Sutsko - Group Chief Executive
Tel: +44 (0)203 058 3542
Fariyal Khanbabi - Group Finance Director
Tel: +44 (0)203 058 3542
MHP Communications
Tim Rowntree
James White
Tel: +44 (0)20 3128 8100
About Dialight:
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, thereby
reducing energy consumption and ongoing maintenance and achieving a
rapid return on investment.
The company is headquartered in the UK with operations in the
USA, UK, Denmark, Germany, Malaysia, Singapore, Australia, Mexico
and Brazil. www.dialight.com.
This Trading Update is based on unaudited management accounts
information and has been prepared solely to provide additional
information to the shareholders of Dialight plc. It should not be
relied on by any other party, for other purposes. Forward-looking
statements have been made by the Directors in good faith using
information available up until the date that they approved this
statement. Forward-looking statements should be regarded with
caution because of the inherent uncertainties in economic trends
and business risks.
Dialight's LEI code is 2138001AD31KKD29Z495.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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