If you have the data in csv format, there are plugins available here which can create profiles from csv files. With some customisation, you can import all your custom fields to the profiles. Download the plugin and see the code.
If you have data in some other format, you have to develop a plugin / script which will read your data and generate profiles based on that.
Many thanks for the answer. Is there a particular plug-in you'd recommend for csv files? Thank you again.
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