Kingspan Group sees sales growth outpacing that for profit in H1

Kingspan Group said, looking ahead, that the order backlog across the group overall pointed to a solid first half for the business, but that growth in sales was likely to outpace that for profit in the period.

"The project pipeline is encouraging in most of our major markets, although trending weaker in the UK in recent weeks," said the specialist in high-performance insulation, building fabric, and solar integrated building envelopes.

It added that the key trading priority was the pass through of increases in input costs, and the associated lag likely to persist in a tight supply environment into the second quarter, and perhaps beyond.

"As a consequence, likely sales growth in the first half is expected to outpace profit growth in the period," the company said.

"Overall, the group remains well positioned given the breadth of our product and market mix, our development agenda over time, together with the ongoing advancement of our high performance technology."

At 12:19 BST, shares in Kingspan Group were down 1.95% to 31.17p each.