Firm says strong first quarter demand has continued into next three months

Kingspan has said it expects turnover and profit in the first half to be above pre-pandemic levels when it files its interim results in August.

The materials firm, whose product was used on part of the Grenfell Tower refurbishment, said that momentum which had built in the first quarter of this year has continued into the next three months.


Kingspan expects profit to be up 58% in the first half

In a trading update, it said that it expects first half sales to be €2.9bn (£2.5bn), a rise of 45% on the equivalent number last year and 29% up on the first half of 2019.

The firm said trading profit for the six months to June would be around €315m (£270m) from €200m (£171m) last year and the €230m (£197m) it filed in 2019.

But the firm, which added that it has completed the acquisition of Danish insulation and building envelope business Logstor for €253m (£217m), said the price of raw materials has continued to rise and will continue to do so “through the summer months at least”.

Kingspan will announce its half-year results on 20 August.