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Cpl Resources post 12pc revenue rise

Tuesday, September 02 10:25:02

Recruitment group, Cpl Resources, this morning posted a 12pc rise in revenues for its full year to the end of June last as Ireland's employment situation improved.

It recorded revenues of E369.3m and a 21pc increase in Operating Profit to E14.2 million.

Profit before tax was up 17pc to E14.4 million and basic earnings per share increased by 16pc to 40.7 cent from 35.0 cent while it recorded a total dividend per share of 9.75 cent compared to 8.5 cent a year before.

It said that the results reflect growth across all of its major areas and locations.

"While economic conditions are improving, recovery in many of the markets in which we operate is fragile, and our industry remains highly competitive." During the year it experienced growth in demand for people to fill permanent and temporary positions and fees from permanent placements grew by 31pc year on year.

"Downward pressure on margins in our temporary business continues to pose challenges, particularly given the significant investment in working capital that this part of our business requires. Nevertheless, we have continued to achieve growth in both revenues and gross profit in our temporary business," the company said.

"Cpl achieved record revenues and gross profit, with gross profit increasing by 12pc to E54.7 million in the year. The labour market continues to recover with total employment on the rise in both the international and domestic sectors of the economy. Companies are gaining the confidence to invest in hiring people on a permanent basis," said Anne Heraty CEO.

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