|
Dialight PLC on Wednesday said its revenue has increased significantly as it confirmed its expectations for the full year.
In the 10 months ending October 30, the London-based industrial LED lighting firm said revenue has increased 35% over the prior year. This, the company said, was primarily due to the Lighting business, where revenue was up 40%.
Signals & Components also continued to see growth in the second half, contributing to a revenue increase of 23% in the period, although order levels in the fourth quarter are reflecting the softer worldwide demand in the opto-electronic market.
The group has continued to mitigate market-wide availability issues for electronic components and castings, including through inventory investment.
There has been further inflation in both component and freight costs during the second half, which have been ‘partially mitigated’ by pricing and increased operating leverage.
Expectations for the full year remain unchanged. The board remains ‘very mindful’ of the current economic backdrop and continuing supply chain disruptions, with the final two months of the year being a seasonally important trading period for the group.
The company said it ‘has a leading position and product offering in markets which are underpinned by long term sustainability, safety and regulatory drivers. As a result, there is significant opportunity for further growth, led by an enhanced commercial strategy and continued product innovation, which provides confidence in the group’s longer-term prospects.’
It confirmed it will publish full year results for the year ending December 31 on March 27 2023.
Shares in Dialight were trading 3.3% lower at 295.00 pence each in London around midday.
Copyright 2022 Alliance News Limited. All Rights Reserved.
|
