Building materials group Kingspan reported a 31.4 per cent rise in profits and said it was benefiting from increasing awareness of energy efficiency in housing.
The Cavan-based company said turnover rose 16.5 per cent to €675.9 million due to strong sales growth in the United Kingdom and Europe where more stringent building regulations have raised demand for better insulation.
Sales were particularly strong in western and eastern Europe, with growth of 26 per cent and 50 per cent, respectively.
Reflecting a programme of geographic expansion, Kingspan acquired a 51 per cent stake in Eurobond Pacific, an insulated panel manufacturer in Australia.
Kingpsan chief executive Gene Murtagh said the half-year results demonstrate the shift away from traditional methods and materials to sustainable energy construction.
Given the increased emphasis on sustainable energy Kingspan expressed confidence that "substantial earnings growth" will be achieved for the year as a whole.