19th Apr 2021 10:42
(Alliance News) - Kingspan Group PLC on Monday said it made a "strong" start to its financial year, with sales rising by almost a quarter.
The Kingscourt, Ireland-based building materials firm said sales in the three months to March 31 rose 24% annually to EUR1.28 billion.
"The group had a strong first quarter both in terms of sales and order intake," Kingspan said.
"Significant raw material inflation is a key feature of the current trading environment and the associated recovery effort is ongoing and on track, albeit with a lag."
Trading in mainland Europe has been positive, the Americas "encouraging" and the UK arm "buoyant".
"The group's trading outlook for the second quarter is positive with ongoing strong momentum across most key markets. Furthermore, raw material inflation, and indeed availability of same, is increasingly a challenge and we are doing our utmost to limit any impact on our own end markets," Kingspan added.
Shares in the company were 2.3% higher at 75.98 pence each in London on Monday morning.
By Eric Cunha; [email protected]
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