Building materials group Kingspan has reported a solid performance in the first four months of 2012.
In ''a subdued global construction market environment'', the group had total sales of €473m, which was 8% ahead of last year.
It said the construction environment in its core markets is stable, albeit uncertain and it is unlikely that growth will occur this year.
The company, which held its AGM today, reported that the breakdown of the sales indicates that Mainland Europe was up 9%, UK up 2% and North America up 10%.
Overall sales growth at constant exchange rates was 5%.
The group noted that the market in Holland had been difficult, resulting in year on year volume declines in our business. Germany, in contrast, was buoyant as a market and Kingspan's growth there is underpinned further by market penetration.
The company reported that debt at the end of April was approximately €185m, an increase of €14.5m on last year, reflecting higher levels of working capital due to seasonal factors and the acquisition of Tasman Floors in Australia in January.
The Group late last month said it had successfully completed a €300m refinancing of its syndicated bank debt with a stronger international dimension than the outgoing syndicate.
