The firm also noted that increased raw material costs were an issue.
"If you want guidance, I would be trending towards the lower end of what is out there," Murtagh told reporters when asked about expected earnings this year.
Housing slump hurts construction kingpin
The Cavan-based Kingspan Group will see lowered earnings as a result of the construction slowdown.
The group, which includes Kingspan Century, Ireland's largest timber-frame building manufacturer issued a statement saying trading over the first four months of the
year has been challenging due primarily to the slowdown in residential construction in Ireland and the UK.
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Jason Walsh
Jason Walsh is Ireland correspondent of the Boston-based Christian Science Monitor newspaper and has contributed to other publications including the Irish Examiner, the Irish Times, the Guardian, the Independent, the Sunday Times, the Washington Times, El Mundo, PressEurop and USA Today.