19th Jun 2019 18:16
(Alliance News) - Kingspan Group PLC said Wednesday Executive Director Peter Wilson sold almost a EUR1.0 million worth of shares in a transaction.
Wilson sold 20,912 shares in the insulation products maker at EUR46.28 each, for a total sale of EUR967,807. Shares in Kingspan closed down 0.4% in London on Wednesday at EUR46.20 each.
Wilson's holding following the deal was not disclosed. Wilson is managing director of the company's Insulation business.
In mid-May, Kingspan Chair Eugene Murtagh sold 1.0 million shares in the company. Murtagh sold the shares at EUR44.50 for a total value of EUR44.5 million.
A few days later, Chief Financial Officer Geoff Doherty sold shares worth a combined EUR904,800 in two transactions.
At the beginning of May the company said it expects positive momentum to continue in the second quarter of 2019 but remains cautious about the impact of the global economy on its business.
Ahead of its annual general meeting, the building materials company reported sales of EUR1.06 billion for the three months to the end of March, up 18% on a year prior. Underlying sales growth reflected strong volumes across key markets, partially offset by the deflationary effect of lower raw material prices, Kingspan explained.
Looking forward, Kingspan said order intake has been "generally encouraging" so far this year and the overall order book is ahead of where it was at the same point last year.
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