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Ireland's building materials firm Kingspan sees 16 pct increase in earnings

Xinhua, February 24, 2015 Adjust font size:

Ireland's building materials firm Kingspan on Monday announced a 16 percent increase in earnings to 189.3 million euros (about 215 million U.S. dollars) for 2014.

The year marked five consecutive years of double-digit earnings growth for the company.

Kingspan said its profit after tax reached 106.5 million euros last year, up 20 percent over a year ago, and revenue jumped to 1.89 billion euros, marking a 6 percent rise.

It attributed the results to double-digit growth in its British and North American businesses. Ireland made up 4 percent of Kingspan's business.

"Conditions in our core markets are improving, and our activity pipeline starting the new year is encouraging," said chief executive Gene Murtagh.

"We are delivering on our strategic goal of broadening our geographic base through acquisitions, and will focus intensively this year on the integration of the companies acquired in 2014," he said. (1 euro = 1.14 U.S. dollars) Endit