Kingspan Group - Rockwool off to a decent start

Davy Research
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Full year guidance is unchanged, but Rockwool has enjoyed a good start to the year. An acceleration in revenue growth (up 6% in local currencies) and margin expansion (100 basis points expansion in Insulation) were stand-out features of its Q1 results. The group has lost considerable ground to Kingspan in recent times but now looks to be on a more solid footing.