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

Gene Murtagh, chief executive of Kingspan: sales at the group approached €2 billion for the three-month period to March 31

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 ...