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Kingspan's pretax profits increase
Kingspan this morning reported higher full-year pretax profit.
The manufacturer of sustainable products for the construction industry posted a pretax profit of €224.2 million for the year to December 31st last year, up from €185.2 million a year ago, on a 27.5 per cent rise in turnover to €1.863 billion.
Kingspan shares fell at the open in Dublin and at 8.30am were trading down 37 cents at €8.61, a fall of over 4 per cent.
Kingspan increased its full-year dividend by 31.5 per cent to 25 cents per share from 19 cents.
But the company said its 2008 earnings are likely to be "appreciably behind" the 2007 outcome if current market conditions persist.
The Cavan-based firm noted that the "the buoyancy of the first half [of the year] was not evident in the second half."
© 2008 ireland.com
