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)

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