Kingspan improves performance
Published: 01-Mar-2012
Insulation product and engineered timber systems manufacturer Kingspan plc has reported a 33% rise in annual trading profits to ?72m.
The Ireland-based business also reported a sales increase of 30% to ?1.55bn, though acquisitions accounted for 9% of the growth.
The group?s insulation board business, a part of which includes the engineered timber systems division comprising the KingspanTEK structural insulated panels business (OSB sheathing/PU core), the Kingpsan Century timber frame business and Kingspan Potton, reported sales of ?460.4m, though 76% of the growth was acquisition related.
Kingspan said its focus on the high-performance insulation product sector provided a platform for strong growth during 2011. This position, combined with growing global recognition of the tangible economic benefits of improved building energy performance, underscored the improved results against a poor economic background.
Kingpsan expects the first half of 2012 to deliver continued, albeit moderating growth.
Source: http://www.worldconstructionnetwork.com/news/kingspan_improves_performance_120301/
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