Kingspan sees sales rise across core markets

Grant Prior 11 years ago
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Insulation giant Kingspan is seeing encouraging signs of an upturn in the UK market as sales pick-up across all of its sectors.

The positive outlook followed final results for 2013 which confirmed a solid set of figures.

The company said: “It would appear that key markets for Kingspan, such as the UK, have seen a notable change in sentiment over the past six months.

“Consequently, Group sales in the early part of 2014 are encouraging albeit against a weak comparative period.

“Kingspan is well placed for the year ahead.”

Group results for the year to December 31 2013 show group pre-yax profit up 19% to €89.2m as turnover ticked-up 10% to €1,790.3m.

Sales of Kingspan’s core insulated panels in the UK rose 1% but “during the second half of the year sentiment picked up markedly as reflected in quotation levels and an enquiry bank that improved on the same time a year earlier.”

Insulation board sales dipped 1% in the UK last year following a fall in the refurbishment market.

Profits increased in the environmental division following a restructuring and a pick-up in UK office construction helped the access floors division boost trading profits by 6%.

Gene Murtagh, Chief Executive of Kingspan said: “With some tentative signs of improved economic stability and sentiment, Kingspan remains focused on its core strategy of delivering innovation, prudent management and a widening global footprint that leaves the company well positioned to take advantage of any recovery that may take place in individual markets.”

 

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