Products giant says modern methods of construction helped increase profit by 40% to £92.5m.

Irish products supplier Kingspan saw profts leap 40% to £92.5m for the year ended 31 December 2005, a record result for the company.

The company's turnover also increased across the period, jumping from £656.8m to £852.4m. The success was due mainly to a boost in sales of insulated panel products, which accounted for 38% of turnover.

Chairman Eugene Murtagh said: "These results are built on a platform of strong management, innovative building solutions, and a commitment to driving nodern methods of construction in the building industry."

Kingspan has just commissioned a new insulated panel manufacturing plant in Hungary to launch further expansion into the region.