Siemens Irish operations contributed around €7.2 million to the German electronics group's profits in the year to the end of September.

This compares to around €6 million last year. Siemens which employs around 800 people in Ireland will add another 20 to its workforce this year, according to Mr Lorenz Zimmerman, chief executive officer (CEO) of Siemens Ireland.

Overall, Siemens, whose portfolio ranges from trains to medical devices and turbines, posted operating profits for the 2003-04 financial year, of just under €5 billion, up 16 per cent on last year.

Mr Zimmerman said the group was aiming for up to 20 per cent growth in income in Ireland over the coming year.

Siemens is involved in a range of businesses in Ireland, including telecommunications and IT, medical technology and engineering. It was involved in construction of the Viridian power plant at Huntstown and the Poolbeg plant in Dublin for the ESB. It also has long term care and maintenance contracts for these plants.

Mr Zimmerman said Siemens would tender for more energy contracts as they arose and he said it had targeted the sector as one offering growth. It was also targeting the medical sector, including medical devices and hospitals as growth areas.