Stock Take
Kingspan’s warning on input costs suggests the ECB’s war on inflation may not be over
The Cavan-based insulation giant issued an upbeat trading update for the first quarter of 2024 but warned input costs may rise again
Investors reacted positively to news from Kingspan that it would buyback 1.5 million of shares, commencing last Friday, “to offset dilution from share issuances”.
Shares in the insulation and materials giant were up almost 1 per cent on Friday afternoon, while the share price is up around 5 per cent in the year to date.
Overall, the insulation giant, which is led by chief executive Gene Murtagh, said it had a “reasonable” first quarter despite ...