Kingspan shares tumble 5% despite record profit expectations 

Kingspan said insulated panel sales fell by 10% in the first nine months but are improving.

Kingspan CEO Gene Murtagh. Kingspan recently offered to purchase the shares it does not already own in the Sweden-headquartered firm Nordic Waterproofing for 2.6m Swedish crowns (€230m) to strengthen this part of the business. File picture: Sam Boal/Rollingnews.ie

Kingspan shares tumbled more than 5% hours after the Irish insulation giant re-iterated that it expects to deliver a record full-year trading profit of €875m amid ongoing economic uncertainty.

In a trading update, the company said sales revenue for the first nine months declined 7% to €6.1bn compared to the same period a year earlier, but it is "comfortably ahead" of the €833m it reported last year.