Kingspan UK insulation sales fall 15%

Grant Prior 8 months ago
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Building products giant Kingspan suffered a 15% drop in insulated panel sales in the UK during the third quarter of this year.

The firm confirmed the fall compared to the same period last year in a trading update to the City.

It said: “The pace of sales activity has decreased significantly in a number of key markets in recent months.

“We have experienced a substantial reduction in order intake in the UK in the third quarter reducing by more than 15% in volume versus the same period in 2018.”

Kingspan also said orders for insulation board had “eased considerably” in the UK.

Insulation sales were up overall following a stronger performance in other global markets but Kingspan said weaker UK sales were expected to continue next year.

It said: “Overall, our end markets are fragile reflecting an uncertain global macro backdrop.

“In particular, we are mindful of the deterioration in sentiment in some markets most notably in the UK.

“This is likely to influence sales activity in the first quarter of 2020 at least.”

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