Lighting group posts return to profit

Global LED lighting specialist Sylvania Lighting has reported a decline in sales but a return to profit.

According to its latest filed accounts for the year ended 31 December 2019, total sales fell 14.3% to €155.5m from €181.5m in 2018.

Gross profit reduced from €55.2m to €34.1m, while pre-tax profit resulted at €413,000, significantly improving from its loss of €22.2m the previous year.

Stated within its report, the company said that the reduction in turnover was due to the changes made in the operating model throughout the period, with the previous commissionaire arrangement for other group entities being gradually replaced with a low risk distribution arrangement.