Kingspan report rise in profits

Building materials manufacturer Kingspan said sales in the nine-month period to the end of September rose by 3% to €6.35 billion on the same time last year.

However sales pre-currency and acquisitions were down 4% in the year to date and in line with the third quarter of 2023.

“Whilst end markets have their obvious challenges the global backlog of orders is ahead year on year. In some markets we are seeing subdued near-term dispatches despite strong backlogs which should augur well for the early part of 2025, albeit at the expense of 2024,” said Kingspan.

Notably, the group's development pipeline “remains strong”, it added.

Kingspan said sales at its Insulated Panels unit improved sequentially in the third quarter, rising by 1%, but were down by 2% in the first nine months of 2024.

Insulation division sales in the first nine months were up 18% and by 20%, boosted by the acquisition of Steico.

Data Solutions sales in the first nine months were up 29% and up by 47% in the third quarter but Light, Air + Water sales in the first nine months were down 2% despite increasing by 1% in the third quarter.