LONDON (dpa-AFX) - Dialight plc (DIA.L), a provider of industrial LED lighting, Tuesday said its current expectations for the 2020 half year and 2020 full year have significantly reduced since the time of its 2019 results announcement in March, while it is more difficult to provide guidance on full year performance,
The group's order intake during the first quarter was in line with its expectations until the latter part of March where it witnessed some softening in Lighting due to the rise of corona virus pandemic.
In view of the COVID-19, the Board and executive team are taking a 20 percent reduction in salaries and the Chairman is forgoing all fees, until the immediate crisis is over.
The Group said it has now voluntarily suspended manufacturing operations in Mexico, pending the review of its application to the Mexican government for an 'essential business' order. Meanwhile, the Malaysian manufacturing facility has been closed since 17 March and the Group has applied applied for an 'essential business' order.
Looking ahead, for long term, the Group said it is confident that it is well positioned to grow profitability.
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