Kingspan sees revenue rise 13%

Specialist building materials group Kingspan has hinted at a recovery in the construction sector, with double-digit percentage growth evident in its Irish operations during the first six months of the year.

Speaking on the back of a better-than-expected set of first-half group financial results, Kingspan’s CEO Gene Murtagh said that particular momentum was evident in June, with good progress seen in its operations in North America and the Middle East.

Group revenue rose by 13% year-on-year to €858.4m; with after-tax profits rising by 6% on the corresponding period last year to €39.2m; earnings per share up by 4% at 23c; earnings before interest, taxes, depreciation, and amortisation increasing by 6% to €75.9m; net debt down further to just under €166m, and the interim dividend up by 10% to 5.5c.