Building materials company Kingspan said its sales for the nine months to the end of September rose by 5%.

In an interim management statement to the stock market, Kingspan said it recorded sales of €1.39 billion during that period. 

It also reported a "solid" sales performance in the third quarter of the year, with revenue up 7% compared to the same time last year.

But the Co-Cavan based company, which manufactures and sells insulation panels, access floors and other products said it is cautious about the outlook for 2015, particularly in Europe. 

The relative optimism which prevailed earlier in the year appears to have waned it added.

"Whilst our business continues to perform solidly, we nonetheless are mindful of what are currently more tempered 2015 economic forecasts, and remain focused on driving the Kingspan proposition, whatever the macro climate," the company stated.

Shares in the company ended the day slightly lower in Dublin trade.

Kingspan said that revenue in its insulated panels division rose by 9% in the nine month period. It noted that the UK market continue to perform well, but mainland Europe remained weak in the third quarter due to a slowdown in the German market. 

The pace of sales growth in North America improved in the third quarter on the back of a strong order book, while activity in Australia continued to strong trends evident in the first half of the year.

Revenues in the company's insulation boards division rose by 3%. Sales in Europe were relatively stable, while it noted a positive performance in the UK market. Further progress was also evident in Australia in the third quarter.

In in access floors division, revenues fell by 4%, but sales in the third quarter rose by 11% with continuing momentum in UK office construction activity and an improvement in the US.