Shares in Kingspan, a leading insulation and building materials manufacturer, saw a sharp increase of over 14% today following the release of its financial results for 2024. Despite challenging market conditions, the company achieved record-breaking profits and revenue growth.
The Cavan-based company reported a 6% rise in post-tax profit for the year ending December, reaching €691 million compared to €654 million in 2023. Revenue also climbed by 6%, reaching €8.608 billion, up from €8.091 billion the previous year.
Earnings per share experienced a 4% uplift, rising to 365.2 cents from 352.3 cents in 2023. Kingspan has proposed a final dividend of 28.5 cents per share, reflecting a 7% increase from the 26.6 cents paid out last year. This brings the total dividend for 2024 to 54.8 cents, up from 52.9 cents in 2023.
The company's financial performance highlights the strength of its insulation and insulated panel divisions, which continue to be its primary revenue drivers. Meanwhile, its data centre solutions segment was the fastest-growing area of the business last year.
Chief Executive Gene Murtagh noted that Kingspan delivered record results despite challenging economic conditions. He also highlighted the company’s strong momentum heading into the second half of the year, with a significant boost in performance towards the end of 2024.
The Cavan-based company reported a 6% rise in post-tax profit for the year ending December, reaching €691 million compared to €654 million in 2023. Revenue also climbed by 6%, reaching €8.608 billion, up from €8.091 billion the previous year.
Earnings per share experienced a 4% uplift, rising to 365.2 cents from 352.3 cents in 2023. Kingspan has proposed a final dividend of 28.5 cents per share, reflecting a 7% increase from the 26.6 cents paid out last year. This brings the total dividend for 2024 to 54.8 cents, up from 52.9 cents in 2023.
The company's financial performance highlights the strength of its insulation and insulated panel divisions, which continue to be its primary revenue drivers. Meanwhile, its data centre solutions segment was the fastest-growing area of the business last year.
Chief Executive Gene Murtagh noted that Kingspan delivered record results despite challenging economic conditions. He also highlighted the company’s strong momentum heading into the second half of the year, with a significant boost in performance towards the end of 2024.
