Brief: Kingspan Q1 sales down 1% y/y, to buyback 1.5m shares

Kingspan

26/04/2024 07:00

April 26 (Reuters) - Kingspan Group PLC  KSP.I :
    * KINGSPAN GROUP - ISSUES TRADING UPDATE FOR THE QUARTER
ENDED 31
MARCH 2024
    * KINGSPAN - NET DEBT AT 31 MARCH WAS EURO 1,291 MILLION, AN
INCREASE OF EURO 311 MILLION IN THE FIRST QUARTER
    * KINGSPAN - GROUP SALES APPROACHED EURO 2BN FOR THE
THREE-MONTH
PERIOD TO 31 MARCH, 1% BEHIND PRIOR YEAR (-8%UNDERLYING)
    * KINGSPAN - NET DEBT  REFLECTS AN AGGREGATE INCREASE OF
EURO 364
MILLION ARISING FROM THE ACQUISITION OF CONTROLLING STAKE IN
STEICO
    * KINGSPAN - BOARD TO INSTIGATE A SHARE BUYBACK PROGRAM OF
1.5M
ORDINARY SHARES, TO OFFSET DILUTION FROM SHARE ISSUANCES
    * KINGSPAN - SAYS THE GROUP’S TRADING OUTLOOK AS MOVES
THROUGH THE
EARLY PART OF THE SECOND QUARTER REMAINS ENCOURAGING
    * KINGSPAN - ORDER INTAKE VOLUMES IN EACH MONTH OF 2024 TO
DATE
HAVE BEEN STRONGER THAN THE SAME MONTH LAST YEAR

Source text for Eikon:  ID: 
Further company coverage:  KSP.I 

 (Reporting by Graham Fahy)
 ((graham.fahy@thomsonreuters.com;))