Manufacturer reports overall sales up a third
Insulation manufacturer Kingspan has said the UK market is “solid” with growth in residential construction and refurbishment.
The firm, which is based across Europe, reported that its sales were up by a third compared to the same time last year to €439.3m it announced in an interim management statement this morning.
“In the UK, the market overall has been solid with a gradual improvement in residential construction, an increase in refurbishment activity and good volumes in non-office related building activity,” it said.
It also said that mainland Europe was beginning to grow again, with Germany being particularly strong.
“Mainland European markets are showing tentative signs of recovery with activity in Germany being particularly buoyant although order patterns in Eastern Europe remain somewhat erratic.
“Our North American businesses recorded a good performance overall in a flat construction market driven in the main by penetration growth in Insulated Panels and good data centre volumes in Access Floors offsetting the impact of a weaker office market. Australia recorded good sales growth in the period and Ireland, which represents 4% of Group sales, was flat overall year on year,” it said.