Kingspan expects ‘significant’ profit jump to €750m this year

Kingspan said sales in the first nine months of the year amounted to €4.72bn, up 44% on the same period last year

Mon, 08 Nov, 2021 - 08:29

Geoff Percival

Building insulation business Kingspan has said it expects to generate trading profits of €750m this year, “significantly” ahead of the €508.2m profit it recorded last year.

In a trading update, covering the third quarter and the year to date, the Cavan-headquartered specialist building supplies group said its order backlog remains strong and its activity pipeline is “generally encouraging” – including for clients in the data, technology, logistics and electric vehicle production sectors.

Kingspan said sales in the first nine months of the year amounted to €4.72bn, up 44% on the same period last year.

The third quarter, alone, saw a 50% increase.

Year-on-year sales in its core insulated panels division increased by 47% and 53% in the nine months and the third quarter, respectively.

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