CPL predicts 31pc rise in profit
Tuesday November 10 2009
Recruitment firm CPL Resources expects to report a pre-tax profit of €2m for the six months ending in December, a figure that will represent a 31pc increase on the second-half out-turn for 2008.
The company revealed the forecast yesterday at its annual general meeting in Dublin. Shareholders were told by the firm's chairman, John Hennessey, that the markets it operates in "remain difficult" and that employment trends continue to present challenges.
Mr Hennessey added that CPL has continued to reduce its cost-base and reposition the business in light of the tougher operational environment.
Last week, employment and training agency FAS said that there were signs in the third quarter of this year that the underlying rate of job losses has slowed significantly, with vacancies up by 20pc on a quarterly basis.
It added that vacancies notified to it were 35pc lower year-on-year during the last quarter, with declines experienced in all occupations except for health and care service workers.
Shares in CPL inched 1.5pc higher yesterday in Dublin to close at €2.05. The company will release interim results at the end of January.
- John Mulligan
Irish Independent
