GATEWAY 2000, the US computer giant with a European base in Dublin, announced record profits for both the fourth quarter and the whole of 1996. The company said net income rose 50 per cent for the last three months of the year to $88.1 (£55 million) million, with revenue up 25 per cent to $1.55 billion on the comparable 1995 quarter.

For the 12 month period, Gateway 2000 made over $250 million, a 45 per cent jump on the 1995 figure, with sales rising 37 per cent to over $5 billion. The company said it had shipped almost two million computers in 1996, compared with 1,338,000 in 1995.

In October, Gateway 2000 promised to expand its European headquarters in Clonshaugh, and plans to double its 1,100 strong workforce within three years.