Irish building materials supplier Kingspan today announced a 21 per cent increase in pre tax profits to euro 38 million.
The group said that although the business climate has changed in recent months, it has the strategy in place to deliver a satisfactory outcome for the year.
Turnover - including Tate, the raised access flooring business in the US - rose by 34.9 per cent to euro 438.3 million from the same period last year.
Gross margin at 30.3 per cent is down marginally on 30.5 per cent in the corresponding period last year.
It said its key strategy going forward is innovation in product and market development and to reduce unit costs and increase efficiency.
In tight property market conditions, building owners are more conscious than ever of value for money and return on investment, Kingspan said in a statement.
"Kingspan has significantly increased the size of the marketplace in which it operates and the platform for continuing growth is in place. This coupled with investment in production efficiency augurs well for future growth." the company concluded.