Zumtobel restructuring boosts first-quarter EBIT
VIENNA, Sept 3
VIENNA, Sept 3 (Reuters) - Austrian lighting group Zumtobel , in the throes of management upheaval, reported a 41 percent rise in first-quarter operating profit thanks to restructuring measures.
Zumtobel, which like rival Osram is grappling with an industry shift from traditional light bulbs to light-emitting diodes, posted adjusted earnings before interest and tax (EBIT) of 18 million euros on Tuesday.
Analysts had expected adjusted EBIT of 14 million euros on average, according to a Reuters poll.
(Reporting by Georgina Prodhan; Editing by David Cowell)