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.

Analysts are anticipating a near €100m jump in annual trading profits for Kingspan, this year, following what the company itself called “an exceptionally strong start to the year”.

Kingspan has identified Latin America as the likely next step in its ongoing geographical expansion, with a presence in both Brazil and Mexico likely to be taken over the next few years.

Co Cavan-based building materials group Kingspan is in advanced talks over a takeover deal in Belgium which would see the company significantly expand its insulated panels business in mainland Europe.

Kingspan has acquired the building products division of Canadian group Vicwest for Can$154.4m (€109.4m).