Shares in Kingspan rise but are 50% down on recession fears        

In a trading update, Kingspan said that a number of its material costs may fall before the end of the year. File Picture: Leah Farrell/RollingNews.ie

Shares in Kingspan rose 3.5% after the building materials giant said that the worst of its cost inflation may already have already peaked, and was set to report increased profits for the full year. 

In a trading update, the company said that a number of its material costs may fall before the end of the year and "the global backlog of orders has been reasonably stable over the past three months". It predicts it will earn trading profits of around €830m this year, compared with €755m in 2021.