Business Irish

Saturday 20 January 2018

Icon sales jump to $1.5bn

Medicine

Dublin-based clinical trials company Icon said sales soared 12.5pc to $1.5bn (€1.3bn) last year as demand picked up in the final quarter.

The provider services to the pharmaceutical, biotechnology and medical device industries said pre-tax profit jumped to $60.6m last year from $38.8m in 2013 as the companyt won new business worth $1.8bn.

Fourth quarter sales rose 13pc to $390m.

Chief executive Ciaran Murray, pictured, hailed the results. "This has enabled us to book $1.8bn of new business, to grow our closing backlog by 16pc to $3.6bn and drive revenues by 13pc to over $1.5bn," he said. "By continuing to improve our operational performance and expand our margins we increased earnings per share by 62pc to $2.87," Mr Murray added.

Fourth quarter gross business wins were $552m while net business wins were $469m.

Icon is now guiding sales of $1.61bn to $1.68bn this year.

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