Wednesday 18 October 2017

CPL Resources revenue increases to almost €400m but pre-tax profits fall

Company acquires UK recruiter Clinical Professionals

Anne Heraty, Chief Executive of CPL. Photo: Tony Gavin.
Anne Heraty, Chief Executive of CPL. Photo: Tony Gavin.

Paul O'Donoghue

Irish recruitment firm CPL Resources saw sales increase to almost €400m in the year to the end of June, an increase of 6.6pc.

Revenue rose from €369.2m to €393.6m while gross profit was up 7.3pc to €58.7m compared to €54.7m the year before.

However, pre-tax profits declined slightly, falling by 2.1pc to €14.1m from €14.4m the year before.

Earnings per share also contracted, dipping from 40.7 cent in the 2014 financial year to 40.2 cent in 2015 while the company's dividend per share remained flat at 9.75 cent.

The company also announced that it has acquired a near 90pc stake in UK recruiter Clinical Professionals Limited. The deal is worth €8m of which €5.1m has been paid with the remainder contingent on certain targets being met.

Chief executive Anne Heraty said: "The employment market continues to improve with skills shortages in some key sectors.

She added: "I am also delighted to announce the acquisition of Clinical Professionals Limited a UK leading Pharmaceutical and Life Science recruitment company. We look forward to working with the management, staff and their clients in the forthcoming years. 

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