Kingspan sees signs of a slow­down

Yorkshire Post - Business - - CAPITAL MARKETS -

IR­ISH BUILD­ING ma­te­ri­als group Kingspan re­ported a rise in prof­its but warned it had seen some re­cent ev­i­dence of a slow­down in the Bri­tish com­mer­cial and in­dus­trial con­struc­tion mar­ket.

Kingspan, a maker of in­su­la­tion prod­ucts in Bri­tain where it gen­er­ates over a quar­ter of its rev­enue, said sales rose 19 per cent to £2.4bn in the first nine months of the year and it ex­pected trad­ing prof­its to rise 10 per cent this year to £334m.

How­ever, it said it had also ex­pe­ri­enced “a sense of near-term in­de­ci­sion” in the plac­ing of or­ders for in­su­lated pan­els, while UK of­fice work ac­tiv­ity, af­fect­ing its ac­cess floor divi­sion which cre­ates un­der­floor space to ac­com­mo­date util­ity ser­vices, was soften­ing as ex­pected.

An­a­lysts at Davy Stock­bro­kers said: “It is un­clear whether this is a blip or rep­re­sents a more pro­found shift, but it is a con­cern.”

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