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Kingspan splashes out as Brexit bites

Proposed home rule in the UK is causing headaches for the Irish building supplies specialist
Kingspan splashes out as Brexit bites

Brexit uncertainty overshadowed an otherwise resilient set of results from Kingspan (KGP). Against a tricky backdrop of “unprecedented” chemical cost rises, the Irish building materials group grew trading profit by 11 per cent to €377.5m (£333m). However, its observation that the “Brexit quagmire” continues to trigger a “sharp” slowdown in UK orders of insulated panels stole all the headlines, sending the share price down 7 per cent.

IC TIP: Hold at 34.94€

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