Kingspan to join S&P Europe 350 index
Insulation manufacturer will join companies like Nestle, BP and HSBC in the indices
Kingspan has said it is forecasting full-year trading profits of about €440m for 2018
Insulation manufacturer Kingpsan has been added to the S&P Europe 350 and S&P Euro indices.
Kingspan will join companies like Nestle, BP and HSBC in the S&P Europe 350, which consists of 350 blue-chip companies drawn from 16 developed European markets.
Kingspan will also be added to the S&P Euro index, a sub-index of the S&P Europe 350. This includes all euro zone domiciled stocks from the parent index, and is designed to be reflective of the euro zone market, yet efficient to replicate.
Kingspan will make the move on Monday, December 24th, 2018.
Last month Kingspan said that it was forecasting full-year trading profits of about €440 million for 2018. In the nine months to September 2018, sales were up by 18 per cent to € 3.18 billion, with sales up by 24 per cent in the third quarter, although it pointed to some “market softening” in residential activity in the UK.