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Kingspan posts record half year revenues 'despite challenging trading environment'

Aug 19, 2022 10:38 By News Northern Sound
Kingspan posts record half year revenues 'despite challenging trading environment'
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Revenue for the first half of this year was up 42% to €4.2 billion.

Kingspan has recorded half-year revenues of over €4 billion for the first time, "despite a challenging trading environment".

Revenue at the Cavan-based company for the first half of this year was up 42% to €4.2 billion, while trading profit is up 32% to over €434 million.

Kingspan also invested more than half a billion euro in new businesses and capital expenditure in this period.

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Gene Murtagh, Chief Executive of Kingspan, has also revealed plans to build 25 new production lines in the next 5 years, including plans to invest €200m in a new Building Technology Campus in Ukraine.

Reflecting on the months ahead, Mr Murtagh said that while inflationary pressures have eased recently, energy supply constraints over the winter months in Europe is something Kingspan will closely monitor.

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