Cavan’s Kingspan profits rise 33% to €341 million

Cavan’s Kingspan saw its profits rise by 33 per cent in 2016 and now stand at €341 million.

Revenues in the company grew by 12 per cent over the past year to €3.1 billion.

In its full year results for 2016, Kingspan says its growth was biggest in Ireland, the UK and western Europe, while it saw a drop in business in Germany and parts of eastern Europe.

It is however expecting to see cost increases over the coming year that it says will be passed on to customers.

€251 million was spent buying competitors, including Euroclad and Essman.