Kingspan ‘cautious’ despite results

Kingspan has reported a strong set of first-half results — including a 23% year-on-year increase in pre-tax profits — but said it remains cautious in terms of full-year outlook.

Pre-tax profits, for the six months to the end of June, amounted to just under €44.52m — up from a total of €36.2m for the same period last year. Group revenue was up by 3%, at €757.4m; with EBITDA (earnings before interest, taxes, depreciation, and amortisation) rising by over 13% to €71.9m and after- tax profits increasing by 27.4% to €37.2m. Earnings per share for the period rose by nearly 28% to 22.1c.

With the figures coming in ahead of most market estimates, Gene Murtagh, CEO of the building insulation specialists, said management was “very pleased” to report another period of progress, achieved through a combination of organic growth and the successful integration of acquisitions.