Chief executive Ciaran O'Donoghue said the Louthbased manufacturer, which makes PCs and other computer equipment for retailers such as Tesco, expects turnover to rise from 65m last year to "between 85m and 90m" this year.

In 2004, the most recent year for which the Companies Office has Iqon accounts, it made pre-tax profit of 1.9m on turnover of 42.6m.

The rapid growth is set to continue, O'Donoghue said, as the company expands its international operations and branches into new markets.

Iqon is preparing to launch its first software product, an internet security program called Childguard, through Tesco this September.

Earlier this year, Iqon acquired a factory in Dundalk previously occupied by electronics manufacturer Quantum, which closed down at the end of last year.

O'Donoghue said the facility was four times the size of Iqon's existing facility and would enable it to substantially increase its manufacturing capacity.

"We want the business, over the next three years, to become more diverse in terms of our product offering, " he said.

Iqon is planning to move into consumer electronics.

O'Donoghue said it would most likely do so through acquisition and has already identified a number of brands it would like to add to its range.

The company also plans to relaunch the Compustore brand in the Irish market before the end of this year.

Iqon bought the brand out of liquidation after the retail chain collapsed in 2004 with debts of 4m.

O'Donoghue said Iqon had planned to operate Compustore as a nationwide franchise, supplying both its own products and those of other manufacturers, but could not secure enough sites. Another plan, to open up a Dublinbased chain of stores, was also shelved.

O'Donoghue said Iqon has since hatched a new strategy and is confident that it will proceed as planned this time.

"Compustore will be back on the market before the end of the year, " he added.