Ireland's building materials giant Kingspan on Tuesday announced a 39 percent increase in revenues to 1.24 billion euros (1.42 billion U.S. dollars) in the first half of the year.

In its half-yearly financial report, Kingspan said its trading profit for the first six months rose 61 percent to 111.7 million euros from 69 million euros during the same period in 2014.

Kingspan manufactures insulation and building envelope solutions for the construction industry. It is based in Ireland but has operations in western and eastern Europe, the United States, India, Australia and the Middle East.

It said acquisitions contributed 26 percent to sales growth and 31 percent to trading profit growth in the period.

Kingspan acquired the Belgium firm Joris Ide in March, and in May it completed the acquisition of the building products division of the Canadian firm Vicwest.

"Kingspan has had an exceptionally strong start to the year, underpinned by solid organic growth. Good progress has also been made with the integration of the Joris Ide and Vicwest businesses acquired during the period, both of which contribute significantly to the global evolution of Kingspan," said Kingspan's Chief Executive Gene Murtagh.

"With reduced levels of economic uncertainty in continental Europe, and improving levels of building activity in the UK and U.S., we are optimistic about the outlook for the full year," he said.