Com­pany Re­port

Belfast Telegraph - Business Telegraph - - News -

Kingspan En­vi­ron­men­tal, based in Por­ta­d­own, is a wholly-owned sub­sidiary of the Kingspan Group which is a stock ex­change-quoted com­pany reg­is­tered in Dublin. The com­pany has lent its name to Ul­ster Rugby’s home ground, the Kingspan Sta­dium in east Belfast ( be­low).

The com­pany de­scribes its prin­ci­pal ac­tiv­i­ties as of­fer­ing pre­mium and sus­tain­able ways of sourc­ing, stor­ing and pro­tect­ing en­ergy and wa­ter. This in­cludes en­vi­ron­men­tally re­spon­si­ble en­ergy stor­age so­lu­tions, waste wa­ter treat­ment and wa­ter re­cy­cling, wind and so­lar en­ergy gen­er­a­tion and hot wa­ter en­ergy stor­age.

The com­pany quotes as part of a range of per­for­mance in­di­ca­tors that in 2016 it dealt with 725 tonnes of waste (down from 1,318 tonnes in 2015) and that it re­cy­cled or reused 79% of its waste. The trad­ing re­sults in the last three years have been sta­ble but the ‘ bot­tom line’ per­for­mance was af­fected markedly in 2015 by a large im­pair­ments charge to the profit and loss ac­count of £3.9m and the up­lift, to the pre-tax prof­its of £5.1m as ex­cep­tional in­come from sub­sidiaries. Three sub­sidiaries were dis­solved in 2015. Look­ing to 2017, the com­pany reports that the year got off to a strong start with a healthy order book. Cap­i­tal ex­pen­di­ture by the com­pany has been in­creased in the last three years and, at £2.4m in 2016 was the high­est of re­cent years.

In 2014, the av­er­age num­ber of em­ploy­ees in­creased sig­nif­i­cantly to 790 peo­ple. Em­ploy­ment in 2016 fell slightly to 726 peo­ple.

No div­i­dends were paid in 2014 com­pared to £125,000 in 2013. How­ever, in 2015 a div­i­dend of £21.2m was paid to the par­ent share­holder.

This af­fected the re­main­ing value of share­hold­ers’ funds which at the end of 2014 was £50.9m but was recorded as £34.3m at the end of 2015 and in­creased in 2016 to a year-end value of £40.9m.

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.