Kingspan's turnover reaches £1.4bn

Insulated panel specialist Kingspan has posted a 28% rise in turnover to £1.4bn in the 12 months to 31 December 2007.

Pre-tax profit increased 21% to £172m and the company believes it is well placed to survive the credit crunch.

Gene Murtagh, chief executive, said: “We have little control over global market conditions, but are clearly taking all reasonable measures to respond to the immediate challenges facing the business.

“That aside, we believe our ability to penetrate further into existing markets and our continually expanding geographic reach, coupled with the growing global demand for energy conserving building systems, will provide excellent growth opportunities for Kingspan in the longer term.”