Shares in LED lighting manufacturer Dialight PLC (LSE:DIA) fell 20% on Friday following an underwhelming trading statement.
Full-year revenues of £169mln were significantly below expectations due to “seasonal demand being below historic levels as well as several strategic customers deferring anticipated orders”, the company said.
Dialight also announced that Karen Oliver has stepped down as chair, with David Thomas assuming the role on an interim basis.
Dialight shares are currently changing hands at 259.79p with a market capitalisation of £86mln.