Clinical trials group Icon has reported a 40 per cent jump in third-quarter net revenue to $120.7 million (€94.7 million). This brings the group's net revenue for the year to date to $326.6 million.

The group's adjusted income from operations rose to $13.6 million in the three months ended September 30th, representing a 63 per cent increase from the comparative quarter last year. The adjusted operating margin for the quarter widened to 11.3 per cent from 9.7 per cent last year.

The company also reported that net new business won in the third quarter amounted to $157 million, an increase of almost 30 per cent.

"Quarter three was another excellent quarter for Icon," chairman Dr John Climax said. "Our clinical business continues to grow very strongly and our central laboratory made further solid progress.

"New business wins in the quarter were very satisfactory and we have had a good start to the fourth quarter.

"Market conditions remain positive and we continue to be confident in the outlook for the year," he added.

During the third quarter, the group invested $6.5 million in acquisitions. Total capital expenditure amounted to $8.4 million, of which $2.3 million related to extending Icon's Dublin facility.

Construction work is still ongoing on this expansion, and is expected to cost a total of $60 million, $11 million of which has been spent to date. The first phase of the expansion is expected to be ready for occupancy by the middle of next year.

Tenders have been invited for the sale and leaseback of Icon's Dublin facility.