Kingspan sees stabilisation

Insulation board maker Kingspan has seen a stabilisation in trading since July 1, with its performance aided by measures to realign its cost-base and low raw material inflation.Kingspan, which has been hit hard by the building downturn, said markets with the exception of Western Europe remain under pressure, with non-residential markets in Central and Eastern Europe and North America noticeably contracting in recent months. 'These markets are not anticipated to bottom out for some time yet,' the firm said.It said that the building environment is expected to remain challenging during 2010.'High rise is expected to weaken, and low rise commercial is expected to remain weak but stable, whilst residential is showing some signs of recovery,' it said.