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Kingspan's 2006 profits to be ahead of targets

AGM today - Core markets remaining 'robust'
AGM today - Core markets remaining 'robust'

Kingspan said today that the group's core markets are quite robust and are anticipated to remain so for the foreseeable future.

In comments prepared for the company's AGM in Dublin today, Kingspan Chairman Eugene Murtagh said that against this backdrop, the board is confident that operating profits and earnings per share will be well ahead of 2005.

He added that 'barring unexpected circumstances' the figures should exceed current market expectations for the year as a whole.

Earlier this week the company said it had secured a British government competition to build social and affordable homes on publicly-owned sites.

The two-bedroom house was devised by the SIXTYK consortium of building groups, architects and consultants, which includes Kingspan Century. The competition challenged the building industry to build a high quality home at a cost of £60,000 sterling.

Kingspan shares closed up 20 cent at €13.05 in Dublin.