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27/02/2012
Kingspan Report Profits Rise
Kingspan, a provider of insulation and building envelope solutions, has reported a 30% increase in revenue to €1.55 billion.
The Irish company's annual results for the year showed trading profit grew 33% from €72.0m to €95.7m, an increase of 24% excluding acquisitions.
The acquisition and integration of the CIE insulation business, significantly strengthening the Group’s Mainland European presence. Insulation Boards divisional revenues grew by 85% to €460m.
Gene Murtagh, Chief Executive of Kingspan commented: "Kingspan delivered a strong performance last year helped by significant sales growth and stable margins.
"Although the international economic outlook remains uncertain, the Group continues to expand its global presence in markets which are driven by conversion to high performance insulation products and an increasing desire for lower energy living standards."
Strong volume growth in Insulated Panels across most regions, demonstrating continued growth in penetration, with revenue up 19% to €758m
(GK)
The Irish company's annual results for the year showed trading profit grew 33% from €72.0m to €95.7m, an increase of 24% excluding acquisitions.
The acquisition and integration of the CIE insulation business, significantly strengthening the Group’s Mainland European presence. Insulation Boards divisional revenues grew by 85% to €460m.
Gene Murtagh, Chief Executive of Kingspan commented: "Kingspan delivered a strong performance last year helped by significant sales growth and stable margins.
"Although the international economic outlook remains uncertain, the Group continues to expand its global presence in markets which are driven by conversion to high performance insulation products and an increasing desire for lower energy living standards."
Strong volume growth in Insulated Panels across most regions, demonstrating continued growth in penetration, with revenue up 19% to €758m
(GK)
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Ireland WeatherToday:A sunny but frosty start for many. However cloud increases by midday with a few showers reaching the north coast, these mostly light but spreading inland this afternoon. Chilly. Maximum temperature 8 °C.Tonight:A rather cloudy evening with scattered showers. Becoming drier through the night with some good clear spells developing and a patchy frost away from coasts. Minimum temperature 0 °C.
