UK: Kingspan’s sales revenue has risen by 19% year-on-year to Euro1.47bn in the first half of 2016 from Euro1.24bn in the same period in 2015. Its net profit rose by 83% to Euro126m from Euro82.4m. The insulation and building products manufacturer attributed the result to increased market penetration and growth though new acquisitions.
“These results reflect our strongest ever six month performance, underpinned by solid organic growth and a robust contribution from the Joris Ide and Vicwest businesses acquired last year. The expansion in profit margin has helped deliver a 50% increase in trading profit and, with good order intake momentum in the second quarter continuing into the current trading period, we expect a solid performance in the second half,” said Gene Murtagh, Chief Executive of Kingspan.
The company’s sales revenue from insulated panels rose by 26% to Euro950m from Euro753m, supported by sales in mainland Europe. Sales revenue from insulated boards rose by 9% to Euro947m from Euro319m driven by the UK
