Zumtobel Group AG (ZUMV.VI)
* SUPERVISORY BOARD APPOINTS CEO ALFRED FELDER UNTIL 2022 Source text for Eikon: Further company coverage: (Gdynia Newsroom)
* GROUP REVENUES 4.7% BELOW PRIOR YEAR, UK (MINUS 15%) AND NEGATIVE FX EFFECTS (FX ADJUSTED. MINUS 3.2%) REMAIN THE BIGGEST DRAG
* CONTINUES RESTRUCTURING PROGRAMME AND MAKES ADAPTATIONS TO THE GLOBAL PRODUCTION NETWORK:
* Q1 NET PROFIT OF EUR 2.8 MILLION (PREVIOUS YEAR: EUR 9.7 MILLION)
VIENNA Austrian lighting group Zumtobel 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.
June 28 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.
* PTA-ADHOC: ZUMTOBEL GROUP AG: PROFITABILITY IMPACTED BY REVENUE DECLINES AND INTENSE PRICE COMPETITION