Buchanan wins Kingspan brief

Irish building materials firm Kingspan has hired its first UK financial comms agency as it pushes to expand its business in the UK and the new EU states of central Europe.

The company, which makes raised-access flooring, insulation products and flooring for large-scale construction projects such as the Swiss Re tower and Canary Wharf, has hired Buchanan Communications for the UK financial comms job.

Buchanan director Tim Thompson is leading the account, thought to be worth up to £100,000 although the agency could bill more depending on Kingspan’s projects over the next year.

Kingspan announced a 32.5 per cent increase in pretax profits for the six months to 30 June this year. The company made £32m on turnover of £305m.

The group has pledged to double its revenue from central Europe where it has operations in Poland, Hungary and the Czech Republic. Kingspan’s biggest operation in the region is in the Czech Republic, where it makes polyurethane panels.

It exports about 70 per cent of its products, mostly to Germany, and also serves Slovakia.

Last month, analysts revised predictions for the firm upwards, forecasting full-year profits to be £62m instead of the £57m previously expected.

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