Kingspan profits soar 30% on sales

Ian Guider

In a trading update, the company said the sales, which have been particularly strong in the second half of last year, continued their upward momentum for the rest of 2004 and would be 18% ahead of 2003 sales.

The company said profit margins will be about 10.7% of sales this year, up from 10.1% in 2003. Kingspan said sales of wall panels, insulation and other structural products grew by more than 20% in 2004. It added: “Environmental container sales are expected to be up over 10% versus 2003. Sales of access floors in the US have grown very strongly in 2004, while the rate of decline in Europe has slowed somewhat in the second half.”