Kingspan shares set to hit €120 despite ‘overhang’ from Grenfell Tower inquiry

Strong sales prompt upgrade of expected revenue for Cavan firm, though ongoing inquiry into London fire disaster means it remains vulnerable

Barry J Whyte

Chief Feature Writer @whytebarry
14th November, 2021
Kingspan shares set to hit €120 despite ‘overhang’ from Grenfell Tower inquiry
Eugene Murtagh, chairman and Gene Murtagh, chief executive of Kingspan Group. The Cavan-based insulation maker’s shares have risen substantially in the last year, in spite of the steady stream of revelations from the public inquiry into the Grenfell Tower fire Picture: Maura Hickey

Kingspan’s shares could hit €120 soon, according to equity analysts, after the company announced another upgrade last week to its expected revenues for 2021. However, there are risks on the horizon.

Last week the company, headed by Gene Murtagh, its chief executive, announced in a trading update that it expected to deliver a full year trading profit in the region of €750 million, significantly ahead of the €508.2 million it recorded in 2020.

The company...

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