Kingspan shares drop after statement

The Irish group saw their share price drop €3.4 to €9.95 – the biggest drop since 1990 and the first time the price has dipped below €10 since 2005.
Gene Murtagh, ceo of Irish building materials group Kingspan, has said that he expects the business to grow in the coming 12 months, despite a slowing in the construction sector.

A trading statement issued by the company this week prompted the drop. In it Kingspan predicted a more challenging outlook than previously expected thus causing the sharpest drop in their share price in 17 years.

About Fiona Russell-Horne

Group Managing Editor across the BMJ portfolio.

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