Kingspan Group Expects 2019 Trading Profit in Line With Views

Date : 11/18/2019 @ 8:32AM
Source : Dow Jones News

Kingspan Group Expects 2019 Trading Profit in Line With Views

By Anthony O. Goriainoff

 

Kingspan Group PLC (KRX.DB) said Monday that it expects to deliver a full-year trading profit of around 490 million euros ($541.4 million), and that this is in line with consensus.

The Ireland-based building and insulation materials company said trading profit for 2018 was EUR445.2 million.

For the nine months ended Sept. 30 the company said sales were up 8% at EUR3.43 billion, with sales growth slowing to 2% in the third quarter.

Pre-currency and acquisitions underlying sales--a key metric for the company which strips out exceptional and other one-off items--were up 2% in the year to date and flat in the third quarter, the company said.

The board said it was mindful of sentiment in some markets--most notably in the U.K.--and that this is likely to influence sales activity in the first quarter of 2020 at least.

 

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

 

(END) Dow Jones Newswires

November 18, 2019 03:17 ET (08:17 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.


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