Cavan, Ireland - Insulation and building products group Kingspan said its revenue in the first nine months of 2013 was Euro 1.32 billion ($1.77 billion) - up 13% on the prior year.
The pace of sales growth progressed solidly during the third quarter, up 14% on the same period in 2012, and the company is forecasting a trading profit growth of 10% for the year.
Sales revenue pre-acquisitions were down 3% over the nine-month period and 2% lower in the third quarter compared to the same period in 2012.
Insulated panels sales in the first nine months increased by 33% and third quarter sales grew by 32% compared to the same period last year. Again, pre-acquisition sales fell, this time by 2%.
Insulation boards sales were down 3% in the first nine months compared to the same period in 2012 while environmental sales were 14% behind last year. Access floor sales were 1% behind last year for the nine-month period.
The company reported a boost in UK activity with Western Europe seeing solid activity through the third quarter, similar to the second quarter. It said central and Eastern Europe's "momentum improved" in the second quarter and that pattern had continued.
North America sales pace moderated over the third quarter in a somewhat quieter non-residential construction market but sales in Australia recovered following a sluggish first half.
The company stated: 'While there is clear evidence of recovery in certain sectors of UK construction markets, and perhaps in pockets elsewhere, recovery in other markets is generally more tentative.' Kingspan highlighted the US market in particular, citing a slowdown in activity in the third quarter but stopped short of calling it a trend.