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Kingspan trading profits up 72%

By BFN News | 09:36 AM | Monday 22 February, 2016


Kingspan's trading profits rose by 725 to euro256m (pre-currency, up 58%) in the year to the end of December. Revenues were up 47% to euro2.77bn, (pre-currency, up 38%). Acquisitions contributed 35% to sales growth and 35% to trading profit growth in the year. Other highlights: - Group trading margin of 9.2%, an increase of 130bps. - Basic EPS up 70% to 106.7 cent. - Final dividend per share of 17.0 cent. Total dividend for the year up 54% to 25.0 cent. - Year-end net debt of €328.0m (2014: €125.5m). Net debt to EBITDA of 1.04x (2014: 0.66x). - Increase in ROCE by 180bps to 15.2% (2014:13.4%). Chief executive Gene Murtagh said: "We are delighted to report a record performance for the Group in 2015 and a strong start to 2016. The two major acquisitions completed last year have performed ahead of our expectations, with Joris Ide and Vicwest significantly expanding our presence in Continental Europe and North America respectively. Our confidence in the long-term prospects of the business, supported by our conservative balance sheet, has underpinned a decision to increase the total dividend for the year by 54%." At 9:36am: (LON:KGP) Kingspan Group PLC share price was -0.15p at 23.35p Story provided by StockMarketWire.com

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