Kingspan reports record profits for 2021 but warns of major cost inflation challenges

The Cavan-based insulation giant said soaring raw material and energy prices had forced it to pass on almost €700 million in additional costs to customers last year

Gene Murtagh, Kingspan chief executive: The business delivered an exceptional performance last year. Picture: Fergal Phillips

Kingspan, the insulation and materials giant, has reported record sales and profits for its 2021 financial year, although it warned of weaker underlying demand in the final quarter of the year due to soaring inflation and supply chain issues.

On Friday, the Cavan-based company announced a 49 per cent rise in full year trading profits to €755 million, as trading margins in the business expanded to 11.6 per cent. Full year earnings (Ebitda) increased 42 ...