Dialight (DIA)

Sector:

Electronic and Electrical Equipment

Index:

FTSE Small Cap

290.00p
   
  • Change Today:
    -13.00p
  • 52 Week High: 340.00
  • 52 Week Low: 160.00
  • Currency: UK Pounds
  • Shares Issued: 32.56m
  • Volume: 6,449
  • Market Cap: £94.43m
  • RiskGrade: 190

Crisis hits Dialight outlook as Mexican factory shuts

By Sean Farrell

Date: Tuesday 21 Apr 2020

LONDON (ShareCast) - (Sharecast News) - Dialight said the outlook for financial performance was significantly reduced as the company said it had closed its Mexican factory had closed because of Covid-19.
The producer of sustainable industrial LED lighting said orders in the first quarter were in line with expectations until late March when lighting demand weakened. Overall orders in the US increased but business in Europe, the Middle East and Africa took a significant hit.

The components business had "robust" trading with orders for medical equipment parts rising. Dialight said it was working through supply chain challenges to deliver the parts.

Dialight said: "The group faces a background of short-term increased uncertainty and challenges in the global economy. It is thus more difficult to provide guidance on FY2020 performance, but our current expectations for the 2020 half year and 2020 full year have significantly reduced since the time of our 2019 full year results announcement."

The company's shares fell 11.4% to 179.49p at 09:23 BST.

The company said its Mexican manufacturing plant was open until last week but that it had suspended operations after applying to the government to be classed as an essential business during the Covid-19 emergency.

"We believe that a significant proportion of our manufacturing operations should qualify due to the number of critical infrastructure and medical equipment customers we have," Dialight said.

Dialight said its net debt at 20 April was £16.2m, down slightly from £16.5m at the end of December. The group has a £25m revolving credit facility to 2023 with HSBC with a two-year option.

"We are in early stage discussions with HSBC to arrange additional liquidity and covenant headroom, should that be required," the company said.

Dialight said it had scrapped all discretionary spending and paused capital spending on new products. Directors and top executives have taken a 20% pay cut and Chairman David Blood is waiving his pay until the crisis is over. The company has furloughed employees and cut pay for most of its workers.

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Dialight Market Data

Currency UK Pounds
Share Price 290.00p
Change Today -13.00p
% Change -4.29 %
52 Week High 340.00
52 Week Low 160.00
Volume 6,449
Shares Issued 32.56m
Market Cap £94.43m
RiskGrade 190

Dialight Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
61.77% below the market average61.77% below the market average61.77% below the market average61.77% below the market average61.77% below the market average
43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average43.59% below the sector average
Price Trend
16.70% above the market average16.70% above the market average16.70% above the market average16.70% above the market average16.70% above the market average
23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average23.08% below the sector average
Income Not Available
Growth
72.44% below the market average72.44% below the market average72.44% below the market average72.44% below the market average72.44% below the market average
83.78% below the sector average83.78% below the sector average83.78% below the sector average83.78% below the sector average83.78% below the sector average

What The Brokers Say

Strong Buy 1
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 2
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Dialight Dividends

  Latest Previous
  Final Interim
Ex-Div 30-Apr-15 03-Sep-14
Paid 02-Jun-15 06-Oct-14
Amount 9.80p 5.20p

Trades for 23-Oct-2020

Time Volume / Share Price
16:35 4 @ 290.00p
16:29 1,544 @ 300.00p
16:29 25 @ 300.00p
16:29 20 @ 298.00p
15:56 483 @ 307.11p

Dialight Key Personnel

Chair David Blood

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