Dialight PLC (LSE:DIA) shares jumped around 10% higher on Wednesday, to 441.28p, after the LED firm upgraded its full-year profit outlook after first-quarter trading exceeded its targets for sales growth, margins and profitability.
The industrial lighting specialist said sales growth comfortably surpassed its stated target of between 3%-plus and 5%-plus. Gross margin also beat management’s ambition of more than 45%, with the improvement feeding directly into underlying profit.
Return on sales exceeded the recently upgraded target of more than 15%, while the company recorded no non-underlying costs during the quarter.
Dialight has also moved into a net cash position and expects further cash generation during the year. The board now expects profit for the year ending 31 March 2027 to come in ahead of its previous expectations, with interim results due on 10 November.
