Kingspan on a roll as sales jump 10%

Shares in insulation products specialist Kingspan jumped by over 3% yesterday after the company published annual results beating both analyst and its own expectations.

The stronger-than-anticipated 2013 figures for the Co Cavan-based firm showed a 10% rise in sales to €1.79bn, an 18% rise in basic earnings per share to 51.7c, and a trading profit of €122.8m, which represented a yearly increase of 14%.

The profit figure was 10% ahead of Kingspan’s last forecast in November and nearly €5m ahead of most analysts predictions.