Insulation products provider Kingspan forecasts nearly 70% annual profit growth

Specialist building materials provider Kingspan has delivered a significantly better-than-expected full-year forecast, suggesting its 2015 profits should increase by nearly 70%, despite global economic confidence wavering.

The Co Cavan-based insulation products provider yesterday reported a 44% year-on-year rise in sales for the first nine months of 2015, to €2bn.

The third quarter was particularly strong, with a 54% annualised sales rise noted, which was boosted by the contribution of recent acquisitions.