By Michael SusinKingspan Group PLC said Monday that it expects to report a record profit for the first half of the year despite a market deterioration in the last two months. The London-listed, Ireland-based building-and-insulation materials company said that it expects to report a first-half profit of 415 million euros ($435.6 million) compared with EUR329 million for the same period last year. The company said markets have deteriorated over the last two months with a significant drop in intake volume compared with the same period in 2021, but still above 2019 levels. The company said, however, that it is well positioned for the medium term and beyond. Write to Michael Susin at michael.susin@wsj.com-(END) Dow Jones Newswires06-20-22 0329ETCopyright (c) 2022 Dow Jones & Company, Inc.

Source: Wall Street Journal June 20, 2022 08:03 UTC