Brief: Kingspan expects 5% increase in FY trading profit to 875 mln euros

Kingspan

06/11/2023 07:00

Nov 6 (Reuters) - Kingspan Group PLC  KSP.I :
    * KINGSPAN - SALES IN THE NINE-MONTH PERIOD TO 30 SEPTEMBER
WERE
6.14 BILLION EUR VERSUS 6.25 BILLION IN 2022
    * KINGSPAN - ACTIVITY PIPELINE IN DATA TECHNOLOGY, EV
AUTOMOTIVE,
AND REFURBISHMENT ACTIVITY IN GENERAL ARE ALL NOTABLE POSITIVES
    * KINGSPAN - WHILST END MARKETS HAVE THEIR OBVIOUS
CHALLENGES,
GLOBAL BACKLOG OF ORDERS HAS REMAINED REASONABLY STABLE OVER
LAST NUMBER OF MONTHS
    * KINGSPAN - INSULATION SALES IN THE FIRST NINE MONTHS WERE
DOWN
7% AND BY 10% IN Q3, BOARD SALES VOLUMES RECORDED HIGH SINGLE
DIGIT VOLUME GROWTH IN Q3
    * KINGSPAN - ACTIVITY IN AMERICAS REMAINS STRONG, FRANCE
ROBUST,
UK MARKET HAS WEAKENED CONSIDERABLY SINCE MID-YEAR, CENTRAL AND
EASTERN EUROPE STABLE AT SLUGGISH LEVELS
    * KINGSPAN - INSULATED PANELS SALES IMPROVED SEQUENTIALLY
Q3, DOWN
9%, AND BY 10% IN THE FIRST NINE MONTHS; Q3 VOLUMES UP
MID-SINGLE DIGIT GLOBALLY
    * KINGSPAN - DATA + FLOORING SALES IN THE FIRST NINE MONTHS
UP 8%
AND UP BY 3% IN Q3, 'EXTRAORDINARY PIPELINE OF ACTIVITY' IN DATA
CENTRE ACTIVITY
    * KINGSPAN - SALES PRE CURRENCY AND ACQUISITIONS WERE DOWN
7% YEAR
TO DATE AND IN THE THIRD QUARTER
    * KINGSPAN - EXPECT TO DELIVER A RECORD FULL YEAR TRADING
PROFIT
IN THE REGION OF 875 MILLION EUR (833 MILLION EUR IN 2022)

Further company coverage:  KSP.I 

 (Reporting By Padraic Halpin)
 ((Padraic.Halpin@thomsonreuters.com;))