Building materials group Kingspan has reported pre-tax profits of €135m for last year, an increase of 40% on the 2004 figure. Turnover was 30% higher at €1.2 billion while earnings per share were up 41% at 66.4 cent. A 44% higher final dividend of 8.95 cent has been declared, giving a total of 13.4 cent for the year.
The company said just over half of the growth came from existing businesses, with the rest from acquisitions, including timber frame manufacturer Century Homes.
Kingspan says it has been focusing on products which will be well-placed to benefit from the increasing emphasis on environmentally friendly buildings.
Sales of insulated panels were up 24%. This sector accounts for 38% of total revenue. Insulation sales grew by 9%, as did sales of raised access floors. Sales of environmental containers jumped by 54%, while the addition of Century Homes led to a 75% surge in revenue in the off-site and structural division.
The company said it should deliver further growth this year, as its markets were 'quite stable'.
Kingspan shares closed ten cent at €11.80 in Dublin this evening.
