Construction services company Kingspan reported a slide in 2002 profits and announced a 12 cent per share special dividend.
The company - which supplies materials to industrial, commercial and domestic building projects - said weak confidence in the uncertain economic environment had adversely affected sales.
Sales for 2002 at €739.6 million were €89.3 million or 11 per cent lower than 2001. The company attributed the shortfall to the commercial building sector, where office building projects have dried up.
Kingspan said it saw little recovery this year but that tight cost management "should continue to insulate the group against the worst effects of the global downturn".
Pre-tax profit for the year to December fell to €63.7 million from €73.4 million; turnover slipped to €740 million from €829 million.
The company raised its annual dividend to 5.9 cents from 4.7 cents, in addition to the 12 cents special dividend.
The special dividend is being paid to return to shareholders some of the cash generated by the company in the last two years.
It said it plans to bring its dividend cover in line with industry levels, where compatible with current growth plans.