Off-site construction was the fastest-growing area for Irish building materials group Kingspan during the first half of 2005, the company has reported in its interim results.
The company, whose businesses include the TEK structurally insulated panel system and timber frame manufacturer Century Homes, grew its pre-tax profits to €62.4m from €40.4m a year ago.
Turnover rose to €580m from €439.3m and earnings per share increased to 30.7 cents from 19.7 cents.
The company’s earnings were boosted by five acquisitions worth nearly €200m during the period
Kingspan chief executive Gene Murtagh said he expected substantial growth since the acquisition of Century Homes, due to growing pressure from government for the use of more modern methods of construction.
