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Zumtobel restructuring boosts first-quarter EBIT
September 3, 2013 / 5:41 AM / 4 years ago

Zumtobel restructuring boosts first-quarter EBIT

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

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