US: Installed Building Products’ (IBP) net revenue has risen by 40% year-on-year to US$404m in the first half of 2016 from US$290m in the same period of 2015. Its net income more than doubled to US$15.8m from US$7.7m. The insulation installation company attributed the strong result to growth in the residential building market.
"Our results continue to benefit from strength throughout the homebuilding industry, growth at our existing branch locations and the contribution of our recently acquired businesses,” said Jeff Edwards, chairman and chief executive officer of IBP.
