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Feb 17 2023, 07:35 GMT
Kingspan Group
2022 results first look
- Sectors : Building products
- Companies : Kingspan Group
DAVY VIEW
Kingspan has announced that its trading profits rose 10% year-on-year (yoy) to €833m in 2022. This is slightly above guidance and our forecast of €830m. The tone of the outlook comments is understandably cautious, but there continue to be areas of strength. Our initial reaction is that we may look to trim our current year trading profit by circa 2% (from €765m to around €750m). This would bring us back towards the consensus estimate, an outcome that would be encouraging in the current circumstances.
