Kingspan sees revenue rise in first half of 2014

Tuesday 26 August 2014 12.02
Recovery in the British economy helped to boost Kingspan's sales there
Recovery in the British economy helped to boost Kingspan's sales there

Revenue at building materials company Kingspan was 4% higher in the first six months of the year, according to the company, at €889.3m.

Earnings before interest, tax, deductions and amortisation were also up, rising 17% to €88.9m.

The company said it continued to have a strong order book due to demand for low energy buildings, despite the generally weak economic picture.

The recovery in Britain – a market that represents 38% of Kingspan’s sales – helped the company in that market, while sales in mainland Europe also grew despite weaknesses in a number of other markets.

In Ireland, Kingspan said volumes had been improving gradually from a low base, however prices remain under “significant pressure”.

The company also saw encouraging activity in the North American and Australasian markets during the six month period.