Menu
23/08/2010
Kingspan Reigns Supreme
Just six months after the building materials supplier Kingspan recorded falling profits and sales, a major turn-round in fortunes has seen the firm make its first operating profit in three years.
The Cavan-based company, which has a factory in Portadown, said profits from January to June rose to €33m - up 9% on last year.
The company said the improvement was helped by cost cutting measures over the last two years.
The revenues rose by 1% to €58m from €552m while pre-tax profits rose to €25.5m from €24.9m.
The news is good for job seekers too as, in May, with things on the turn, the company said it would create 163 jobs in Portadown as part of a £47m expansion.
The engineering and manufacturing posts will be created at the Kingspan Renewables business, which makes solar power equipment.
It said that recovery was clearly evident in many of the group's businesses in the UK, Germany and central Europe.
But it added that Ireland as a market weakened further, while office construction internationally also continued to decline.
Just last March, the firm's profit fell to €56.7m (£50.5m) from €68.1m (£60.7m), on turnover that was down by 33% at €1.1bn (£1bn).
(BMcC/GK)
The Cavan-based company, which has a factory in Portadown, said profits from January to June rose to €33m - up 9% on last year.
The company said the improvement was helped by cost cutting measures over the last two years.
The revenues rose by 1% to €58m from €552m while pre-tax profits rose to €25.5m from €24.9m.
The news is good for job seekers too as, in May, with things on the turn, the company said it would create 163 jobs in Portadown as part of a £47m expansion.
The engineering and manufacturing posts will be created at the Kingspan Renewables business, which makes solar power equipment.
It said that recovery was clearly evident in many of the group's businesses in the UK, Germany and central Europe.
But it added that Ireland as a market weakened further, while office construction internationally also continued to decline.
Just last March, the firm's profit fell to €56.7m (£50.5m) from €68.1m (£60.7m), on turnover that was down by 33% at €1.1bn (£1bn).
(BMcC/GK)
Related Northern Ireland News Stories
Click here for the latest headlines.
22 November 2024
Winter's Den: A Festive Wonderland In Belfast City Centre
Belfast city centre is getting ready to spread some festive cheer with the opening of Winter's Den at 2 Royal Avenue. The former Tesco Metro has been transformed into a magical winter wonderland, offering a packed programme of free events and activities for people of all ages.
Winter's Den: A Festive Wonderland In Belfast City Centre
Belfast city centre is getting ready to spread some festive cheer with the opening of Winter's Den at 2 Royal Avenue. The former Tesco Metro has been transformed into a magical winter wonderland, offering a packed programme of free events and activities for people of all ages.
25 November 2024
Visit Belfast Celebrates 25 Years of Transforming Tourism Landscape
Visit Belfast, the city's dedicated Destination Marketing and Management Organisation (DMMO), is celebrating a quarter-century of success.
Visit Belfast Celebrates 25 Years of Transforming Tourism Landscape
Visit Belfast, the city's dedicated Destination Marketing and Management Organisation (DMMO), is celebrating a quarter-century of success.
09 July 2002
NI religious attitudes hardening
There is an increasing hardening of attitudes by both Protestants and Catholics towards living, working and learning together according to new research. The research conducted by the University of Ulster reveals that Protestants’ and Catholics’ perceptions of each other are becoming increasingly negative.
NI religious attitudes hardening
There is an increasing hardening of attitudes by both Protestants and Catholics towards living, working and learning together according to new research. The research conducted by the University of Ulster reveals that Protestants’ and Catholics’ perceptions of each other are becoming increasingly negative.
22 August 2011
Recession Hits Gilbert Ash's Profits
The construction firm behind the acclaimed rebuilding of south Belfast's iconic Lyric Theatre, Gilbert Ash, has been filing its accounts. And while the Belfast-based construction firm Gilbert has reported pre-tax profits of nearly £700,000 for 2010 on a turnover of £94m, when compared to the previous year, both turnover and profits were down.
Recession Hits Gilbert Ash's Profits
The construction firm behind the acclaimed rebuilding of south Belfast's iconic Lyric Theatre, Gilbert Ash, has been filing its accounts. And while the Belfast-based construction firm Gilbert has reported pre-tax profits of nearly £700,000 for 2010 on a turnover of £94m, when compared to the previous year, both turnover and profits were down.
11 February 2004
Galen on course to double profits
NI-based pharmaceuticals company Galen has reported pre-tax profits of £26 million for the first quarter of the year, and is on course to double annual profits.
Galen on course to double profits
NI-based pharmaceuticals company Galen has reported pre-tax profits of £26 million for the first quarter of the year, and is on course to double annual profits.
-
Northern Ireland WeatherThis Evening and Tonight:A dry night, save for a few light showers around the coasts, with prolonged clear spells and light winds bringing a frosty dawn for many in central and southern parts. Minimum temperature -3 °C.
