Kingspan predicts €750m full-year operating profit in trading update

The insulations company said a swell in demand at the start of this year buoyed its results for the nine months up to September

The company, lead by chief executive Gene Murtagh, comfortably beat analyst expectations in its latest trading update. Picture: Rolling News

Kingspan expects to deliver a full year trading profit in the region of €750 million, significantly ahead of the €508.2 million it recorded in 2020 and beating out analyst expectations by an average of 9 per cent.

In late August of this year, Davy stockbrokers forecasted the group’s full-year profits at about €700 million following what it called a period of “exceptional performance” by Kingspan reflected in its half-year results.

The Cavan-based insulation and materials ...