Kingspan Group Plc (KGP.L, KGSPY), an Irish building materials company, reported Friday that its first-half profit before income tax grew to 387.6 million euros from last year’s 297.2 million euros.
Basic earnings per share were 170.6 cents, an increase of 29 percent from 132.4 cents a year ago.
Trading profit went up 32 percent from the prior year to 434.2 million euros, while trading margin declined 80 basis points to 10.5 percent.
Revenue climbed 42 percent to 4.15 billion euros from last year’s 2.92 billion euros. Group revenue increased 39 percent on a constant currency basis.
Further, the Board has declared an interim dividend of 25.6 cents, up 29 percent from last year, payable on October 7 to shareholders on the register on the record date of September 9.
Looking ahead, Gene Murtagh, Chief Executive of Kingspan, said, “…we retain the outlook flagged in our June trading update but are confident in the long term demand for the energy efficient solutions we deliver. 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.”
Separately, Kingspan announced the appointment of Senan Murphy as a Non-Executive Director with effect from October 1.
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.
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