June 28, 2018 / 6:15 AM / a year ago

Zumtobel makes full-year loss, sees further revenue decline

June 28 (Reuters) - Austrian lighting group Zumtobel said on Thursday it expected its revenues to fall further in the first half of the current financial year, hurt by a decline in its UK operations and pricing pressures in the lighting industry.

Revenues for the 2017/18 year fell by 8.2 percent to 1.20 billion euros ($1.39 billion) and the company reported a loss of 46.7 million euros, compared with a profit of 25.2 million euros a year ago, the company said on Thursday.

But the company also said it was targeting a slight year-on-year improvement in full-year 2018/19 adjusted core profit.

Zumtobel said that due to “substantially weaker operation development”, no dividend was planned for 2017/18.

$1 = 0.8655 euros Reporting by Sylwia Lasek in Gdynia. Editing by Jane Merriman

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