Brief: Kingspan Q1 sales up 4% y/y, to delist from LSE

Kingspan

28/04/2023 07:00

April 28 (Reuters) - Kingspan Group PLC  KSP.I :
    * KINGSPAN - Q1 GROUP SALES APPROACHED €2 BILLION IN 
CHALLENGING
ENVIRONMENT, 4% AHEAD OF PRIOR YEAR (-3% UNDERLYING)
    * KINGSPAN - AMERICAS OVERALL STRONG, WESTERN EUROPE SOLID
FOR THE
MOST PART, CENTRAL & EASTERN EUROPE REMAINING TOUGH AGAIN
    * KINGSPAN - INSULATED PANEL SALES DOWN 5% (-6% UNDERLYING)
WITH
VOLUMES BEHIND Y/Y VERSUS STRONG COMPARATIVE OF ACCELERATED
DEMAND
    * KINGSPAN - A FEATURE OF MARKET ACTIVITY OVER THE LAST 18
MONTHS
OR SO HAS BEEN GYRATING ACTIVITY MONTH ON MONTH
    * KINGSPAN - WHILST Q1 INSULATED PANEL ORDER PLACEMENT HAS
BEEN
SLUGGISH, IT DID REPRESENT 25% OF ALL ORDERS PLACED DURING 2022
    * KINGSPAN - INSULATION SALES WERE IN LINE WITH THE FIRST
QUARTER
OF 2022 (-4% UNDERLYING); LIGHT, AIR & WATER SALES UP 3% (+4%
UNDERLYING)
    * KINGSPAN - REMAIN COMMITTED TO OUR PRIMARY LISTING ON THE
MAIN
MARKET OF EURONEXT DUBLIN, WHERE MAJORITY OF TRADING TAKES PLACE
    * KINGSPAN - PROPOSES TO DELIST FROM LSE SUBJECT TO
SHAREHOLDER
APPROVAL, CURRENT SHARE TRADING NEGLIGIBLE AS PERCENTAGE OF
TOTAL TRADING
    * KINGSPAN -  EXPECT TO DELIVER A TRADING PROFIT OF JUST
OVER
€400M FOR H1 ALBEIT WITH MUCH OF Q2 STILL REMAINING

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

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