Lighting brand impacted by Covid pandemic

Lighting brand ZG Lighting has reported a decline in sales while also posting a loss.

According to its latest filed accounts for the year ended 30 April 2020, total sales fell 4.2% to £101.6m from £106.1m in 2019.

Gross profit reduced from £24.1m to £18.6m, while its pre-tax profit of £409,000 recorded the previous year, fell to a loss of £8.4m.

Stated within its report, the company said that the impact of the global pandemic had contributed to the decline in performance, while adding that it had incurred exceptional costs of £6.7m in relation to the provision of expected product warranty costs of insurance proceeds.