The firm expects the trend to continue throughout 2013 as headline figures for the year to December 31 2012 show group after-tax profits up 18.8% to €74.7m on turnover up 5.3% to €1,628.7m.
The UK accounts for 38% of Kingspan’s global sales where the market was “generally subdued”.
There was a shift in spending on insulation boards in the UK where Kingspan said: “Refurbishment of both domestic and non-residential buildings has continued to replace weak newbuild as existing property owners seek greater operating efficiency from their buildings.”
The company added: “This trend can be expected to remain into 2013, potentially supported by some improvement in newbuild housing activity.”
Sales volumes for Kinsgspan’s insulated panels were down 2% in the UK last year and “the early part of 2013 is still expected to remain tough”
Gene Murtagh, Chief Executive of Kingspan said: “We are pleased to report another positive year of progress for Kingspan, one in which we continued to increase our profitability, generate strong cash flows and widen our global footprint.
“Our strategy is to provide a superior range of products that deliver savings to our customers through enhanced energy efficiency and, combined with a strong balance sheet, leaves us well placed to continue to advance in a weak macro environment.”