|Real-time - 01/25 04:30:57 am|
Kingspan : 3Q Sales Rise, Trading Profit Seen Ahead of 2019
|11/16/2020 | 02:33am|
By Sabela Ojea
Kingspan Group PLC said Monday that sales rose slightly in the third quarter of the year that it expects to deliver profit marginally ahead of 2019.
"Trading in the fourth quarter to date has been strong, helped to an extent by accelerated demand in the expectation of inflation led price increases in the coming months," the Ireland-based building and insulation materials company added.
The London-listed company said sales in the third quarter rose 6%, but fell 5% to 3.27 billion euros ($3.87 billion) in the first nine months of the year compared with the year-earlier period..
Underlying sales decreased 6% in the third quarter, and 10% in the year to date.
"While conscious that much of the seasonally variable fourth quarter is still at play, in what is an untypical year, we expect to deliver a full year trading profit marginally ahead of 2019," the company said.
Write to Sabela Ojea at email@example.com; @sabelaojeaguix
(END) Dow Jones Newswires