Kingscourt, Ireland – Kingspan could have a record-breaking half, but warned that sales have dried up in May and June, the company said in a trading statement. It expects a record first half trading profit of about €415m, up 26% year on year.
This was driven by the first quarter, where sales were up by 47%. Orders in June were up on 2019, the last year pre-pandemic. But, the company warned, the mood in most markets has deteriorated in the past two months, and volumes were down significantly in May and June this year.
The company said sales in its insulated panels business were down 2% at the end of May. First half numbers are set to be reported on 14 August.