Kingspan Group plc’s Offsite and Structural divisions accounted for nearly a fifth of the overall company’s turnover in the first half of 2007.
Offsite and structural products generated €169.3m in the six months to June 30, a year-on-year increase of 48% and 19% of the €908.4m turnover recorded by Kingspan, which was also up by 34.4% on 2006.
Despite the huge upturn in turnover during the first half of 2007, Kingspan has said that it expects second half results in the area to be compressed, citing a slowdown in the Irish residential construction sector and high timber prices.
However, the focus on research and development into thermally efficient products should permit further penetration of modern methods of construction into Ireland according to Kingspan, with the drive for zero-carbon homes having a similar effect on the market in the UK.
Kingspan Offsite’s operations include Kingspan Century, the company’s Irish timber frame manufacturer, and Kingspan TEK, the structural insulated panel system offered by the firm, as well as the over-arching offsite business, which created the first home to be billed as achieving a Level 6 rating against the Code for Sustainable Homes.
