CPL warns of uncertainties despite strong profit growth
Published 28/01/2012 | 05:00
"VERY significant uncertainties" remain in recruitment firm CPL Resource's main markets, the company warned, as it posted strong revenue and profit growth in the first half of its financial year.
Revenue at the group rose 28pc to €142.7m in the six months to the end of December, while operating profit in the period was 27pc higher at €4.2m. Pre-tax profit in the first half rose 17pc to €4.5m.
CPL said that fees from permanent placements rose 16.3pc during the first half, while fees from temporary placements were 24.2pc higher in the period. Permanent placements generated 30pc of CPL's revenue in the first six months, with temporary placements accounting for the remainder.
Of the 16pc more people CPL placed in permanent positions in the first half, 34pc of the roles were overseas.
CPL chairman John Hennessy said that the results were strong, especially considering the economic backdrop.
Chief executive Anne Heraty said that despite the situation in Ireland, demand remained buoyant for some professions in financial services, including accountants.