LONDON (dpa-AFX) - Dialight plc (DIA.L), on Monday, issued trading update for the period from 30 June to 31 October 2021, and said its expectations for the year remain unchanged.
The company noted that it 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.
Dialight stated that it has responded well to the supply chain challenges with active management to secure components and logistics and 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, which led to an increase in the company's full year net debt expectations, to a range of between £12 million and £14 million.
Meanwhile, the company added that it remains 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,' the company said.
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