Profits at multinational documents company Xerox, which is set to become one of the State's largest employers, rose 13 per cent to $448 million (€426 million) in the second quarter from an adjusted $395 million (€375 million) in the same quarter last year, before a restructuring charge.

Diluted net earnings per share rose 15 per cent to 66 cents in the quarter from an adjusted 58 cents in the year-ago period, excluding the charge. Xerox is planning to invest £360 million and create 3,500 jobs here by the year 2003.