Kingspan going from strength to strength

Friday, 22nd February, 2019 10:15am

Kingspan going from strength to strength

Gene Murtagh, Kingspan..jpg

Kingspan has posted a 19% increase in revenue for the year ending January 31, 2018, according to preliminary figures.

The results show a revenue of €4.4 billion for the Kingscourt based building materials company, with a trading profit of €445 million.

The company reported a strong performance in the Americas and continental Europe for insulated panel sales, which were up 21% for the year.

In a statement, Kingspan said it was the first time earnings before interest, tax, depreciation and amortisation exceeded €500m.

They said that with the exception of the UK market, most markets ended the year strongly with order banks well positioned for the start of 2019.

Gene M. Murtagh, Chief Executive of Kingspan commented:

 “2018 was a year of strong growth for Kingspan, with the company delivering revenues of over €4bn for the first time. Performance has been robust in most of our major markets, and momentum has improved through the year. With the order book going into the new financial year ahead of the prior year period, we are confident in our near-term outlook. Notwithstanding this we remain mindful of challenges to growth, particularly the continuing uncertainty in the UK. However, the geographical diversification of the business, helped by our acquisitions last year to expand our footprint in Latin America, Southern Europe and India, means we are well placed to continue to deliver long-term returns to shareholders.”

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