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Dialight PLC - London-based producer of LED lighting for heavy industrial applications - In the 15 months to March 31, swings to pretax loss of $32.5 million from profit of $0.5 million in the 12 months to December 31, 2022. Revenue climbs to $226.0 million from $209.8 million for the same periods. Underlying gross margin drops slightly to 31.0% versus 32.1% in the previous period reflecting a combination of labour and materials inflation. Highlights positive momentum within the business moving forward with alignment and support to the strategy.
Chief Executive Steve Blair says: ‘I am confident that we can improve Dialight’s financial outlook and make a real difference to the business in the medium term, as we seek to maximise our self-help approach and deliver predictable forecasts and performance.’
Current stock price: 175.84 pence
12-month change: down 17%
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