Interim results increase 30% to £613.6m as insulated panel division grows strongly
Pre-tax profits at Kingspan have risen by 30% in a strong set of interim results.
The building product firm’s results show strong rises in turnover and profits in the six months to 30 June, due to strong growth in the company’s insulated panel business.
Turnover has soared by more than a third (34%) to €908m (£613.6m), with pre-tax profits at €108.2m (£73.1m), up from €83.4m (£56.4m) at the same time last year.
Insulated panels represent over half (55%) of Kingspan’s group sales, and turnover in the business rose by 47% from 30 June 2006. Insulated panel business in Central and Eastern Europe markets rose by 82%.
Chief executive Gene Murtagh said: “Markets are becoming increasingly alerted to the significance of high performance building solutions in reducing direct energy consumption and carbon emissions generally.”