Cpl Resources PLC releases interim results for the six months to 31 December 2012

Share Article

Cpl resources records strong interim financial results, amid challenging market conditions

Cpl Resources Plc

Cpl Resources Plc

Cpl Resources Plc has today announced a strong set of interim financial results from the past 6 months to December 31st. The group recorded a 13% increase in revenue, which represents a total figure of €161.7 million. Earnings per share rose by 55% to 16.96 cent and operational profit grew by 37% to €5.8 million. These increases are a direct result of Cpl’s delivery of innovative service solutions, organic expansion and high quality service to clients and candidates.

Profitability for this period was largely achieved through a combination of judicious cost control measures and improved productivity across the business. As a result, the group managed to generate a 24% rise in conversion ratio of gross profit to operating profit in the six months to December 2012, compared with 20% for the same period in 2011. Given the continued economic hardships in Ireland at present, Cpl’s primary markets remain challenging; however this situation has created new opportunities for the group, particularly in the areas of temporary staffing and fully outsourced services. Other areas that remain strong, for those with the right skillsets, are technology, finance and accountancy, areas that would account for many of the 2,000 plus vacancies we are currently advertising.”

Speaking about the results, Cpl Chairman John Hennessy said, “I am pleased to report that in the six months to 31 December 2012 the Cpl Group delivered a strong operating performance, with improved revenues, gross profits and earnings per share.” John went on to highlight the continued difficulties presented by current market volatility but he remained optimistic about continued prosperity over the coming 6 months. “As we move into the second half of our financial year we are closely monitoring activity levels in all of our markets. We continue to see opportunities for growth in key parts of our business. Although medium term visibility remains difficult in current market conditions, we expect our performance for the second half of our financial year to be similar to the first six months.”

Cpl CEO, Anne Heraty praised the groups continued use of innovative business practices to achieve long term growth and underlined Cpl’s commitment to reducing the number of jobseekers on the live register. Anne Heraty, CEO at Cpl, commented, “We’re pleased with these results in what remains challenging conditions in the jobs market. In spite of this we still managed to increase the numbers now working for Cpl, on clients’ sites, from 7,850 to just over 8,500 in the last six months. Another sign of a slight improvement in the market is that permanent placements have jumped by a healthy 21% during the period under review as people get a little more confident about moving employment.”

“A further bright spot is that we have just begun a campaign to recruit 650 people nationwide who are currently unemployed, under the State sponsored Momentum initiative, and we will be providing these people with a 6 to 8 month training programme in the food and healthcare sectors, preparing them for re-entry into employment. Participants in the programme are entitled to their full unemployment benefits as they train."

About Cpl
Cpl offers a diverse range of services to over 1,500 clients each year. These services can be broadly categorised as temporary staffing, permanent recruitment, managed services and outsourcing. We provide these services to local customers and multinationals through a network of 24 offices in Ireland, Spain, England, Poland, Bulgaria, Slovakia, Czech Republic and Hungary. Our business is based on matching the capabilities of our candidates and employees with the need of our clients to get work done. In addition to providing services to customers in Ireland, we serve the European needs of global corporations in the Technology, Social Media, Finance and Pharmaceutical sectors

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Dave Cullen

Dave Cullen
Follow us on
Visit website