The word “tariff” doesn’t appear in Kingspan’s annual results for 2024 published on Friday – but it’s not a topic that chief executive Gene Murtagh will shy away from either. As the insulation giant touted its “record” year, it showed notable gains in the North American market but in recent weeks the spectre of tariffs from the Trump administration has loomed large. “Just in terms of cost inflation, obviously it’s a noisy environment at the moment and that ebbs and flows literally by the day or the hour but we would expect, with a fair degree of confidence, that costs…

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