Kingscourt, Ireland -- Polyurethane insulated panel maker Kingspan’s sales reached EUR1.39bn ($1.73bn), up 5% on Q3 2013.
Insulated panels revenue in the first nine months increased by 9% and by 8% in Q3, the company said.
According to Kingspan’s Q3 financial statement, “the UK continued to perform well with encouraging activity across most building segments.”
“After sluggish second quarter sales, mainland Europe remained weak through Q3, reflecting abatement in German market activity. However, North American Q3 sales showed improvement, helped by a strong order book as we entered the second half. Activity in Australasia continued the strong trend evident in the first half” of 2014.
The company statement said: "The relative optimism that prevailed earlier in the year appears to have waned in recent months, particularly in Europe. Whilst our business continues to perform solidly, we nonetheless are mindful of what are currently more tempered 2015 economic forecasts, and remain focused on driving the Kingspan proposition, whatever the macro climate.
"The fourth quarter of 2013 was particularly strong for the group. Notwithstanding that, and with this seasonally important and often variable period to come, we expect to deliver a full-year trading profit in the region of EUR144m (+17% versus 2013)."
Insulation board revenue was up 6% in Q3 2014 with UK sales “positive”, mainland Europe sales “relatively stable” overall year on year, the company reported.
XE Currency conversion: 10 November, 2014