Irish building materials firm Kingspan said today profit growth will slow in 2008 because of "more challenging" markets in Ireland, Britain, and western Europe.
Earnings may grow by a mid-single digit percentage in 2008 after growth of about 22 per cent this year, the company said today.
The 2007 forecast is unchanged from September, when it predicted operating profit growth of at least 20 per cent.
Kingspan has fallen 33 per cent on the Dublin stock exchange this year as Ireland's housing market slows and on concern that demand for its products may cool.
In Britain, which accounts for around 60 per cent of its sales, potential home seekers are being discouraged by the worst performance in property values since 1995.
Sales growth may also be restrained as European demand was boosted last year by a mild winter, and the "uncharacteristically strong" start to 2007 may not be repeated, Kingspan said.
Agencies