Zumtobel Records Drastic Profit Cut

IndustrialsIndustrial Goods ♦ Published: June 27, 2012; 14:58 ♦ (Vindobona)

The Austrian lighting company announced ist fourth quarters results today. Consolidated revenues were up by 4.2% at € 1,280.3m (2010/11: € 1.228.2m). Zumtobel´s Profit for the year was 68.9% below previous year at € 16.0m.

Zumtobel Records Drastic Profit Cut / Picture: © Zumtobel Lighting GmbH

As expected by analysts, Zumtobel´s results were substantially down in the fourth quarter of 2011/12. The technology shift to LEDs had a marked impact on the development of the Zumtobel Group in the 2011/12 financial year. For the Austrian lighting group this comprehensive transformation process on the one hand offers major impetus for growth but on the other calls for far more…