Kingspan full year revenues soar 47 per cent to €2.77 billion

Revenues at insulation and construction materials manufacturer Kingspanrose 47 per cent to €2.77 billion for the year ended 31 December 2015.

Trading profit for the year rose 72 per cent to €256 million, with acquisitions contributing 35 per cent to trading profit growth in the year.

The full year dividend per share increased 54 per cent year-on-year to 25 cent.

The company said 2015 was a record year for Kingspan in revenue, trading profit and investment in strategic platforms for the future. The insulated panels division in the UK had its strongest year since 2007.

Kingspan said sales volume in Ireland grew by just over 10 per cent in 2015, reflecting a continuation of the recovery in the local economy, and an indication of the growing investment in industry by both indigenous and international enterprises.

Kingspan chief executive, Gene Murtagh, said the two major acquisitions completed last year have performed ahead of the company’s expectations, with Joris Ide and Vicwest significantly expanding Kingspan’s presence in Continental Europe and North America respectively.