Kingscourt, Ireland — Kingspan had growth in sales in the nine months to September rise of 19% to EUR 2.7bn, and sales in Q3 were up 17% compared to year-earlier periods, according to a trading statement.
Sales in the insulated panel segment were up 13% in the third quarter of 2017, Kingspan said, ‘owing to the pass through of input-related inflation. Mainland European sales were solid in most markets and notably positive in France’.
‘In the UK,’ Kingspan said, ‘we have experienced a sense of near-term indecision around order placement. However, our future activity tracker remains modestly ahead of prior year.’
Insulation board sales were up 16% in Q3 as again input price rises were passed on. Growth in the firm’s Kooltherm phenolic boards continued to grow, and was ‘particularly positive in the UK, Ireland, Western Europe and the Nordics’.
Kingspan expects its input prices to continue to rise in the fourth quarter, albeit less pronounced as price rises reach their peak, it said. The company expects to see profit growth of around 10%, or EUR 375m, if current exchange rates remain stable.
