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Building materials company Kingspan cautious on outlook for next year

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New developments surged by 30pc last year, while planning applications rose by 12pc compared with 2013

New developments surged by 30pc last year, while planning applications rose by 12pc compared with 2013

New developments surged by 30pc last year, while planning applications rose by 12pc compared with 2013

Building materials company Kingspan has expressed caution about its outlook for next year.

The company is “mindful of what are currently more tempered 2015 economic forecasts”, it said  in an interim management statement yesterday.

“The relative optimism that prevailed earlier in the year appears to have waned in recent months, particularly in Europe,” the statement said.

Sales at Kingspan jumped 5pc year on year in the nine months to September 30.

The company expects to deliver a full-year trading profit of €144m, 17pc higher than last year.

Its net debt at the end of September was €107.7m, €39.1m lower than at the same time last year.

Online Editors