Kingspan 1Q Sales Rose 24%; 2Q Outlook Positive
By Anthony O. Goriainoff
Kingspan Group PLC said Monday that first-quarter sales rose
24%, and its business outlook for the second quarter was positive
with continuing strong momentum across most of its key markets.
The London-listed, Ireland-based building-and-insulation
materials company said sales for the period were 1.28 billion euros
($1.53 billion). The company said that significant raw-material
inflation was a key feature of the current business environment,
but that the associated recovery effort, although lagging, was
continuing and on track.
The company said that among its markets mainland Europe was
strongly ahead, and that the Americas have had an encouraging start
to the year, particularly in Latin America.
"Raw-material inflation, and indeed availability of same, is
increasingly a challenge and we are doing our utmost to limit any
impact on our own end markets. We have a strong backlog on hand
which augurs well for the period ahead although in the current
environment we are cautious about looking too far forward,"
Write to Anthony O. Goriainoff at
(END) Dow Jones Newswires
April 19, 2021 02:52 ET (06:52 GMT)
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