Trading Statement

RNS Number : 3983Z

Dialight PLC

14 December 2017

 

14 December 2017

Dialight plc

("Dialight" or the "Group")

Trading update

Dialight, the world's leading industrial LED lighting technology company, today publishes a trading

update ahead of the year ending 31 December 2017.

Since the trading update in October, the Group has continued to experience production volume shortfalls at the plant in Guadalajara, Mexico. Following the most recent unexpected update from its manufacturing partner, the Board now believes a significant number of orders are unlikely to be fulfilled in this financial year.

As a result we now expect EBIT (excluding non-recurring items) for the year ending 31 December 2017 to be not less than £9m. We expect non-recurring items to be in the region of £6m, and to end the current financial year with a strong net cash position.

Michael Sutsko, Group Chief Executive, said:

"The performance of our manufacturing partner is a significant disappointment. The challenges are a concern in the short-term but we remain confident in our ability to address these in the coming months. The sustainability benefits of our products coupled with reduced maintenance and improved safety continue to offer real value to our customers. The Board remains confident that the production issues are short term and will not impact the medium to long term growth prospects."

There will be a call at 4.00pm today for analysts and investors. To register for the call please contact MHP Communications on [phone] or 8756, or by email on [e-mail].

Contacts:

Dialight Plc

Michael Sutsko - Group Chief Executive

Tel: [phone]

Fariyal Khanbabi - Group Finance Director

Tel: [phone]

MHP Communications

Tim Rowntree

James White

Tel: [phone]

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.

 

END

 

 

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