Kingspan lifts turnover by 18% to £1bn

Kingspan increased its turnover in the UK during 2006 to £560m, a 9% increase over the £510m figure in the previous year.

Announcing the group’s latest results today, chief executive Gene Murtagh reports “robust underlying construction markets”.

Group turnover (12 months to 31 December) was higher at £1bn (previous year: £850m) with net profit before tax lifting to £130m (previous year: £90m)

Kingspan’s four operating divisions are: insulated panels & boards; raised access floors, environmental; and off-site & structural.

Insulated panels account for almost 40% of group turnover and sales into central and eastern Europe climbed rapidly. Murtagh said: “Insulated panels are becoming an increasingly preferred building material, largely due to the compelling build speed benefits of the system.”

Kingspan operates in 13 countries. It recently set up a new manufacturing joint venture in Turkey to boost its ambition of pushing further eastwards.

Insulation boards accounted for 17% of group turnover. In the UK, volume growth ran to 7%, with Murtagh commenting: “The group’s strategy has been to shift specification patterns towards the most efficient rigid insulation material available.

“This product, currently marketed across western Europe and gaining traction particularly in the UK, will be the subject of capital investment during 2007.”

Within Kingspan’s off-site division, home designs that achieve zero carbon emissions are due for launch in 2007, well ahead of the government’s push to achieve this status for all new build by 2016.