Kingspan Group: Increased pre-tax and revenue for 2021

Kingspan Group Plc announced that pre-tax profits and revenues for 2021 increased, and despite the slower quarter, the BoD appears cautiously optimistic about 2022 estimates, given the company’s strong outstanding balance.

The Irish company of construction and insulation materials announced that the pre-tax profits amounted to 689 million Euros compared to 459.7 million Euros for 2020.

Profits from trade increased to 754.8 million Euros compared to 508.2 million Euros a year ago.

Revenue rose to 6.5 billion euros from 4.58 billion euros a year ago.

The BoD proposed a dividend of 26 cents per share, up from 20.6 cents in 2020.

The company, listed on the London Stock Exchange, stressed that the level of prices of raw materials remains high and that there are still no signs that this situation has changed significantly.

Kingspan stressed that although its outlook after the first quarter lacks some visibility, the mood in the markets is largely restrained optimism.

Source: Capital

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