- Building insulation provider Kingspan reported a rise in annual profit on higher sales, though it warned 2020 had gotten off to a slow start amid an uncertain economic outlook in its end markets.

For the year ended 31 December 2019, pre-tax profit rose to €454.4m from €303.9m on-year and revenue climbed 7% to €4.7bn.

The company declared a final dividend per share of 33.5c, taking the total dividend for the year to 46.5c, up 10.7%.

'2019 was another year of solid growth for the business, ending a decade during which the company's revenue increased fourfold, and trading profit increased sevenfold,' Kingspan said. 'Performance this year was helped by increased penetration of our proprietary high-performance insulation products QuadCore and Kooltherm. This structural shift in building techniques and materials used also drove our increased profit margins,' it added.

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