By Joe Hoppe

Kingspan Group PLC said Monday that sales rose significantly in the third quarter of the year, and that it expects to deliver full-year profit materially ahead of 2020.

The building-and-insulation materials company said sales for the third quarter rose 50% on year, while for the first nine months of the year, sales rose by 44% to 4.72 billion euros ($5.46 billion).

Underlying sales rose 33% in the third quarter, and 34% in the first nine months.

The company said it expects its full-year trading profit to be around EUR750 million, up from EUR508.2 million a year prior.

The backlog of orders remain strong, though it is slipping week on week as sales activity outpaced new order placement, Kingspan said. The company said 2021 has been an unusual year as customers placed orders earlier in the year than usual in an attempt to get ahead of rising inflation and availability pressures.

"It is likely what we are experiencing now is a fallow period in order placement following that," Kingspan said.

The company said raw-material prices have been somewhat stable in recent weeks, though at record high levels and following unparalleled increases.

Write to Joe Hoppe at joseph.hoppe@wsj.com

(END) Dow Jones Newswires

11-08-21 0324ET