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Kingspan positive on Q2 performance after sales rise 24% in Q1

By BFN News | 07:59 AM | Monday 19 April, 2021


Building insulation group Kingspan said its outlook for the second quarter was positive after reporting a rise in first-quarter sales as orders increased. For the first quarter, sales rose 24% to €1.28 billion year-on-year, led by strong sales in mainland Europe. The company flagged significant raw material inflation as a key feature of the current trading environment, though said the associated recovery effort was ongoing and on track, albeit with a lag. Mainland Europe was strongly ahead overall with Germany, France and the Benelux notably positive. The Americas had an encouraging start to the year particularly in Latin America and order intake in North America 'significantly' outpaced sales in the period, the company said. The UK business had also been strong year to date with buoyant sales and order intake activity. Story provided by StockMarketWire.com

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