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Kingspan Group Sales Climb In Q3, 9M; Sees Significantly Higher Trading Profit In FY22

(RTTNews) - Kingspan Group Plc (KGP.L, KGSPY), an Irish building materials company, reported Monday that its third-quarter sales grew 17 percent on a reported basis, and 9 percent on an underlying basis.

In the nine month period to September 30, sales were 6.25 billion euros, up 33 percent from the prior year. Underlying sales were up 20 percent.

In the Insulated Panels segment, sales increased 13 percent in the third quarter and 29 percent in the first nine months.

Insulation sales were up 20 percent in the third quarter and 48 percent in the first nine months. Light + Air sales grew 26 percent in the third quarter, while the growth in the first nine months was 33 percent. Data + Flooring sales also climbed in double- digit percentages.

Looking ahead, the company said it expects to deliver a full year trading profit in the region of 830 million euros, significantly ahead of the 755 million euros recorded in 2021, with the seasonally important fourth quarter remaining.
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