StockMarketWire.com - Kingspan said sales rose 8% in the nine months to September, but the insulation supplier warned that an uncertain macro backdrop would hurt sales growth in the first quarter of 2020.

For the nine months to 30 September 2019, sales rose 8% to €3.43bn on-year, but sales growth slowed to 2% in the third quarter.

Insulated panel and board sales were up 9% and 3% in the first nine months respectively. Light & air sales increased by 12%, and data & flooring sales increased by 14%.

Water and energy sales were up 3%, but were down 3% in the third quarter reflecting softness in the UK and reduced market activity in Australia impacting rainwater harvesting volumes.

Looking ahead, fragile end markets and deterioration in sentiment in some markets most notably in the UK would likely influence sales activity in the first quarter of 2020, Kingspan said.

'We expect to deliver full year trading profit of c. €490m, or growth of approximately 10% versus 2018, and in line with consensus,' it added.

At 9:07am: [LON:KGP] Kingspan Group PLC share price was -1.3p at 47.32p



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