Building materials group Kingspan took full advantage of the building boom to post a 34 per cent rise in profits in 2004.
The provider of prefabricated building products such as raised flooring said turnover rose 22 per cent to €958 million and earned a net profit of €88 million.
The group feels that the appropriateness of its products to the current construction environment will help it achieve good growth going forward. Almost all of this growth was organic as markets proved considerably more stable than in recent times, the company said.
Kingspan specialises in providing prefabricated products that reduce the need for skilled on-site labour and shorten construction times.
Kingspan said the building market in Ireland and Britain has continued to improve through the second half of 2004 and into the opening quarter of 2005.
Given the group's continued strong cashflow, Kingpsan will pay a final dividend of 6.2 cent per share, an increase of 35 per cent on the 2003 final dividend of 4.6 cent.
This gives a total dividend for the year of 9.6 cent per share, an increase of 33 per cent on 2003.