Tuesday 10 December 2019

CPL posts €5.9m pre-tax profits

John Mulligan

John Mulligan

THE chairman of recruitment firm CPL Resources, John Hennessy, said the outlook for the group remains challenging but that it continues to see opportunities in "key parts" of its business.

He made the comments as the company reported a pre-tax profit of €5.9m for the six- month period to the end of December – a 31pc year-on-year increase. Revenue at the firm jumped 13pc to €161.7m in the period, which is the first half of the group's financial year.

"Although our principal markets remain difficult, many employers in these markets continue to experience mismatches between the skills they need and those that are available," said Mr Hennessy.

"There is a general oversupply of people available for work, but at the same time there is an undersupply of specific skills that are in demand," he added.

CPL said that its gross profit generated from permanent placements in the first half of its fiscal year rose 21pc to €7.5m, with 38pc of the permanent placement fees being generated outside Ireland.

CPL generated revenue of €154.2m from temporary placements in the six-month period, 10pc more than in the corresponding period the previous year. The gross profit from that segment was €16.2m, up 11pc year-on-year.

Irish Independent

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