Kingspan sees 4% revenue increase

Building provider Kingspan has seen revenue increase by 4% to €889.3m in the first six months of the year.

In a half-year statement released today, the group said trading profit was up 24% to €69.2m and that net debt fell from €165.1m in the same period last year, to €113.4m.

Specifically, sales of insulated panels were up 9%.

Chief executive of Kingspan Gene Murtagh said: "Kingspan has delivered strong growth in profitability, notwithstanding a tougher EU construction sector in the second quarter, and a global economic recovery that remains weak.

"Our order book carried good momentum into the second half of the year, driven by continued growth in the demand for low energy buildings."