CPL's operating profit up 27pc in H2 2011
27.01.2012
Irish recruitment services company CPL Resources has reported a 27pc increase in operating profit to €4.2m in the second half of 2011, compared with the same period in 2010.
Revenues at the group were up 28pc to €143m.
The board declared an interim dividend of 3c per share, which will be payable on 12 March 2012.
Chairman John Hennessy said the group’s performance in the six months to 31 December 2011 had been strong against a background of economic uncertainty.
“We have concentrated our efforts on meeting the changing needs of companies and candidates while managing our own cost base carefully,” he said.
“We have recorded an increase in our fees from permanent placements by 16.3pc over the same period last year, while we have continued to experience significant pressure on prices and margins we are pleased to report a 24.2pc increase in net fees from the placement of temporary employees.
“I am also pleased to report the continued profitable growth in our businesses outside Ireland.”
He noted that “very significant uncertainties” remain in the group’s principal markets.
“Although we expect to maintain our position in those markets, we do not anticipate that those markets themselves will grow significantly in the near future. As a consequence, it's not possible to forecast future performance with any certainty.”