Cavan, Ireland -- Insulation and building products supplier Kingspan Group Plc saw sales surge 30 percent in the first nine months of the year, with third quarter 2011 sales up 24 percent.
"Margins have gradually improved during the year," the group said, with "earlier spikes in material increases," recovered.
Sales in the nine months to 30 Sept were Euro 1140 million, Kingspan said, noting in its 14 Nov interim statement that this strong growth was driven largely by market penetration, refurbishment and geographic expansion, rather than by any growth in key markets.
Kingspan also pointed out that building activity globally has eased in recent months "due largely to persistent economic uncertainty, particularly in the EU," and this is shown in modest reductions in quotation levels and order intake during the third quarter.
The group added that its non-residential project pipeline grew slightly, which points towards positive medium-term activity.