International broker Alexander Forbes revealed plans to hit the acquisition trail this week, as the company revealed impressive yearly results.

For the year to March 2000, the company posted pre-tax profits of £55.83m, up from £38.28m for the corresponding period the previous year.

The company used the results to announce the acquisition of financial services company, Jonhstone Douglas, for around £30m. Alexander Forbes' group chief executive Graeme Kerrigan said: "Johnstone Douglas, acquired shortly after the financial year end, is a most exciting development. In addition to providing the group a significant presence within the growth areas of the UK employee benefits market. Further acquisitions are underway."

Alexander Forbes claims to be the world's eighth largest broker. Its international activities include risk management, insurance and reinsurance broking, and a number of other services.