April 27, 2017 / 6:11 AM / 3 years ago

BRIEF-Kingspan Q1 sales up 24 pct y/y, UK market a little softer

April 27 (Reuters) - Kingspan Group Plc

* Good start to the year, Q1 sales up 24 percent y/y to 831.2 million eur (+14 percent pre currency and acquisitions)

* Mainland European markets continue to show signs of recovery, UK remains solid overall although a little softer than at the turn of the year

* Net debt at end-March was 457 million eur, an increase of 29 million eur reflecting, in the main, seasonal investment in working capital

* Order backlog overall points towards solid H1, project pipeline encouraging in most markets, although trending weaker in the UK in recent weeks

* Key trading priority pass through of increases in input costs, associated lag likely to persist in a tight supply Q2 and perhaps beyond

* As a consequence, likely sales growth in H1 is expected to outpace profit growth in the period Further company coverage: (Reporting By Padraic Halpin)

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