Kingspan reports 5% dip in sales but is confident of full year profit 

Net debt at the end of September 2020 was €312 million, but the group said its end markets are in reasonable shape 

Kingspan CEO Gene Murtagh pictured outside the IKON Innovation Centre, Kingscourt, Co. Cavan. 

Insulation group Kingspan recorded a 5% fall in sales in first nine months of 2020 and a net debt of €312.0m, but its end markets are in reasonable shape ”bearing in mind the uncertain and evolving backdrop," the group said. 

The Cavan-based group reported sales in the nine month period up to September fell by €3.27bn, down 5% on the same period in the prior year. However, there were tentative signs of recovery in the third quarter, with sales growth of 1%.