Kingspan Group - No change to forecasts as slowdown in UK commercial and industrial sector is flagged

Davy Research
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We expect to keep our full year trading profit forecast of €378m (up 11% on 2016) unchanged following Kingspan’s trading update. Reflecting its lofty standards, this represents a break with a long-standing sequence of earnings upgrades accompanying trading updates and results. While disappointing, it does not alter our conviction that Kingspan remains a high quality, multi-year growth business.