Profit and revenue boost at Kingspan despite £15m loss due to Russia exit

By Daniel Gayne2023-02-17T10:44:00

Source: Shutterstock

Pre-tax profit up 8% at Irish materials giant

Kingspan’s decision to leave the Russian market in the wake of the country’s invasion of Ukraine resulted in a loss on disposal of assets of €16.5m (£14.7m).

The Irish materials giant, which divested its operations to local management last April, revealed the loss in its full-year results, published today, which also showed 28% revenue growth at the business.

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