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Kingspan Group PLC on Tuesday said that it is positioned to perform well in the medium term, as it expects profit for the first half of this year to modestly exceed that of the last.
The Kingscourt, Ireland-based building materials company expects to report trading profit for the first half in the region of €435 million, up marginally from €434 million year-on-year.
The firm noted that market and category performances have varied widely, with the Americas overall outpacing European activity.
Certain applications performed particularly strongly, namely those in tech and automotive production, while demand for data applications also remained high.
Looking ahead, Kingspan said that it is still positioned favourably overall as it enters the third quarter, ‘although it is still early days’.
It added that the company was ‘positioned strongly overall for the medium term and beyond given the global focus on energy efficiency, our high-performance product suite, our distinctive Planet Passionate agenda and ever-growing diversity of our end markets.’
Kingspan shares were trading 12% higher at €64.16 each in London on Tuesday morning.
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