Kingspan performance ahead of forecasts
Building materials group Kingspan Group has said their performance for the first half of this year is well ahead of the same time last year in a trading statement this morning.
The Co Cavan based group sees its full year results coming in ahead of market forecasts.
The trading statement for the first six months of 2005 described the current construction market conditions as generally stable.
It said that despite a slower than expected start to the year in Central and Eastern Europe, Kingspan's revenue growth has continued to be strong with recent acquisitions trading in line with expectations.
The improving trend in EBITA margin has continued, it added.
Results for the whole of 2005 are expected to be ahead of current expectations, with raw material prices likely to be more stable than in the recent past, the company added.
"Kingspan anticipates continued progress in its main product groups, with building activity consistent with that experienced to date," the trading statement said,
"Raw material prices are also likely to be more stable than in the recent past. Results for the year to December 31, 2005 are expected to be ahead of current market expectations.
"The combination of good underlying growth coupled with the contribution from acquisitions provides a strong platform for continued good growth," said Gene Murtagh, Kingspan's CEO.
