Kingspan reports 32% rise in its trading profits

Senan Murphy to be appointed as a Non-Executive Director.

Cavan headquartered manufacturing giant, Kingspan, has reported a 32% rise in its trading profits in the first six months of this year.

The surge in revenue at the international building and materials group saw trading profits jump €105.3m on the same period of 2021 to €434.2m in the company’s half year financial report.

Revenues at the company meanwhile hit €4.15 billion for the same 2022 period - an increase of 42% year-on-year.

The company said acquisitions contributed 12% to its sales growth and 13% to its higher profits.

“Despite a challenging trading environment Kingspan delivered record half year results, with revenues over €4bn for the first time,” said Kingspan CEO Gene Murtagh in a statement. “We have been able to navigate large input cost increases with only modest margin impact.

“We invested €522m in new businesses and cap-ex in the period, including significant progress executing on our strategy of developing a new business division focused on roofing and waterproofing solutions.”

In the same statement, Mr Murtagh also cited the company’s plan to build 25 new production lines in the next five years, including a €200m facility in Ukraine.

Though he said there continued to be challenges that could impact the business in the short-term.

"Whilst inflationary pressures have eased in recent months, the context of energy supply constraints over the winter months in Europe will be something we will be closely monitoring.”


The Board of Kingspan also announced the appointment of Senan Murphy as a Non-Executive Director with effect from October 1, 2022.

Mr Murphy was formerly the Group Finance Director and an executive director of CRH plc., and was previously Chief Operating Officer at Bank of Ireland Group, and Chief Financial Officer at Airtricity.

He has over 30 years’ experience in international business across multiple industries including building materials, renewable energy, financial services and banking.