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Kingspan acquisitions trigger record first-half performance

“We delivered a record performance in the first half of the year, with revenue over €2bn for the first time,” said Gene Murtagh, Kingspan chief executive
construction site
Kingspan lifted its interim by 9% to 12 cents per share

Kingspan Group plc (LON:KGP) reported a 15% rise in first-half revenue, to €2bn, whilst trading profits increased by 10% to €195.3mln.

It acknowledged that acquired operations contributed 15% to sales growth and 12% to trading profit respectively, meanwhile, net debt increased to €739.4mln from €440.3mln at the same point last year.

Earnings per share came in at 80.7 cents, up 8%, and, Kingspan increased its interim dividend by 9% to 12 cents per share.

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“We delivered a record performance in the first half of the year, with revenue over €2bn for the first time,” said Gene Murtagh, Kingspan chief executive.

“Performance was helped by improved momentum in the second quarter after a sluggish start to the year due to prolonged winter weather conditions.

“This momentum has continued into the second half in a number of key markets and underpins our encouraging outlook for the rest of the year. Kingspan's geographical footprint continues to expand, with development activity in Latin America, Southern Europe and India opening up exciting growth opportunities."

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