Clinical trials group Icon is looking for further growth following a rise in pre-tax profit from $1.4 million (€1.49 million) to $3.06 million in the fourth quarter to May 31st 2000. The group's sales grew at a lower rate, to $29.1 million from $25.5 million.

Icon said, excluding merger costs and the tax impact, the full year income from operations increased by 16.8 per cent from $7 million to $8.2 million. Pro forma diluted earnings per share amounted to 70 cents, up from 66 cents.

The past trading period, said chairman Dr Ronan Lambe, had been another year of record earnings and profits. "In addition, we made our first ever acquisitions, a biostatistics consulting group in California, a regulatory consulting group in the UK and an animal health consulting group in France, each of which fit well into Icon's strategic development."

On the future, he said, the market would remain competitive, particularly in Europe. But he expressed confidence that the "strong flow of business opportunities which we have been getting from existing clients and potential clients in both Europe and the US will enable us to achieve further growth in the year ahead". Icon has a share listing in Dublin and on Nasdaq. Based in Dublin, it has 18 offices in 11 countries and employs around 1,000 people.