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Jun 24 2021, 06:45 IST/BST
We still have to reach half-way but our latest Kingspan forecast revision leaves the trading profit forecast for 2021 over 20% above the start of year position. The latest double-digit earnings upgrade provides further compelling proof that the group is dealing impressively with the spike in input costs. Despite the scale of the revision, the implied assumptions for H2 do not appear overly onerous after what has been a terrific first half. The stock is back at its all-time peak level, but we continue to have high conviction in our ‘Outperform’ recommendation.