Brexit hits Kingspan sales

Kingspan shares have fallen on the Co Cavan-based building insulation specialist reporting slowing sales growth in what it has called fragile end markets, with Brexit having a meaningful negative effect.

The building materials group also said the uncertainty in key markets is likely to dent its first-quarter 2020 sales. The group’s third quarter sales “eased considerably” across the UK, Germany and Ireland, offsetting growth in the US and Australia. UK orders for its key insulated panel products fell by 15% in the quarter, due to Brexit uncertainty squeezing the market.