VIENNA (Reuters) - Austrian lighting group Zumtobel (ZUMV.VI) suffered a 24 percent fall in revenue in its main British market last year but expects it to stabilise in coming months, Chief Executive Alfred Felder said on Thursday.
“We expect to see a stabilisation (in Britain) from September,” Felder told a news conference in Vienna, adding he based that view on the company’s order book.
Zumtobel generates nearly 20 percent of its sales in Britain. Price competition in both lighting and components and the depreciation of the British pound hurt results last year, Felder said.
Reporting by Kirsti Knolle; editing by Jason Neely