Ireland: Insulation and building supplies manufacturer Kingspan has reported that its operating profit grew by 15% in 2012 to Euro105m from Euro90.9m in 2011. Revenue for the year rose by 55% to Euro1.63bn.
Kingspan reported strong overall performance in insulated panels with sales revenues up by 11%, particularly strong in Germany, Canada and Australia. The company reported 'robust' performance in insulation boards where revenues were up 2%, stable in the UK and slightly up in Continental Europe.
"We are pleased to report another positive year of progress for Kingspan, one in which we continued to increase our profitability, generate strong cash flows and widen our global footprint," said Kingspan's chief executive Gene Murtagh.
