Icon, the Dublin-based, leading clinical-research organisation, has reported a 32 per cent increase in second quarter pre-tax profits to $1.95 million (#1.288 million) Following a listing on the New York Nasdaq exchange last May, Icon's turnover for the period rose 37 per cent to $13.7 million (#9.04 million).
ICON said the latest results keep it on target to float on the Irish stock exchange between now and May. The company's chief financial officer, Mr Peter Gray, said this development would not lead to the issuance of additional shares. When the company floated last May its shares were valued at $18, while yesterday they were trading at $35.
ICON employs 110 people at its Leopardstown facility, For the first half of the year it reported a 41 per cent increase in turnover to $26.5 million (#17.5 million) and pre-tax profits of $3.7 million (#2.4 million), up 32 per cent.
Enterprise Ireland holds a 6 per cent stake and has invested about £3.5 million (#4.444 million) in the company.
(# signifies the euro)
