Houston, Texas – Lapolla Industries, a global supplier and manufacturer of products including spray PU foam insulation, reported a growth in sales of 10% to $ 40.7m (EUR36.5m) compared to Q2 2015.
The firm’s net income for H1 2016 was $ 2.5m, an increase of $ 4m on H1, 2015 when the firm ran at a loss.
Adjusted EBITDA (earnings before interest, tax, depreciation and amortisation) for H1 2016 was $ 4.5m - an increase of $ 3.6m compared to the same period in 2015, the firm said.
Lapolla’s ceo and president Douglas Kramer said: “All of our strategies and efforts revolve around delivering a quality product that is designed to reduce energy consumption in a cost efficient manner to select target markets around the globe.
Kramer added: “Lapolla has achieved a record net income and adjusted EBITDA for the first six months of 2016. It is tremendously rewarding to be a part of a company that has come so far in such a short period of time.”
XE Currency conversion: 4 August, 2016