Kingspan's first-half EBITDA up 17%, revenue grew 4%

The Irish building materials and insulation producer 4567 Kingspan Group posted an increase of 17% in its earnings before interest, tax, deductions and amortisation (EBITDA) to €88.9 million during the first-half of 2014.

Sales remained strong due to demand for low energy buildings, even with the unfavourable outlook of the economy. This is attributable to the recovery in Britain, which accounts for 38% of Kingspan sales and which is said to have aided the company in that market.

Similarly, in mainland Europe, sales rose in spite of weaknesses in some other markets.

A 4% hike in Kingspan's revenue was recorded in the first-half to reach a total of €889.3 million.

In the Australasian and North American markets, promising activity was recorded in the first-half of 2014.