Kingspan restores dividend as profits grow by 9%

Builders suppliers Kingspan has said its half-year operating profit grew for the first time in three years to the end of June, up 9% to €33.1m, and said it would resume paying dividends to shareholders.

The company also saw its debt decrease from €230.8m at June 2009 to €135.1m this year.

Kingspan's key insulation market saw growth in the UK (up 14%), US, central Europe and Australia (up 12%).

Company boss Gene Murtagh said: "We are encouraged to have resumed profit growth again for the first time in three years. Positive trends in first half order intake across the business point to a robust and solid outcome this year and together with the substantial progress made in lowering costs and debt, there is now scope to restore an interim dividend to shareholders."

He said, however, that challenges remained. "…We remain mindful that recent global macro indicators remain cautious and mixed, while input price increases will present their own challenges in the months ahead."