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

File Picture:Leah Farrell/RollingNews.ie

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.