Kingspan eyeing 30% rise in annual trading profit

Specialist building solutions group Kingspan is targeting a 30% improvement in trading profit this year.

In its latest trading update, published yesterday, the Co Cavan-headquartered environmental and insulation- focused building materials group reported a 13% year-on-year increase in revenues for the first nine months of the year to €2.27bn and said that it is on course to beat expectations for the year as a whole.

Kingspan said: “Assuming current exchange rates prevail, we expect to deliver a full year trading profit of approximately €335m, over 30% ahead of prior year, conscious that much of the seasonally variable fourth quarter remains.”