CPL remaining cautious despite bumper profits
THE chairman of recruitment firm CPL Resources has cautioned that while it's seeing some signs of economic recovery, it's too early to predict whether the momentum will be sustained.
John Hennessy made the comment even as Dublin-based CPL delivered a bumper set of full-year figures, with pre-tax profits jumping 26pc to €12.3m and revenue rising 14pc to a record €330.8m in the 12 months to the end of June. Of that, €315m was generated from people working with clients on temporary contracts.
CPL said that the group's results reflected growth across all its major business areas and locations. It added that the growth had been achieved in "challenging and highly competitive markets".
But it said that even though sustained economic recovery remains uncertain, gaps remained between the supply of skills and emerging demand for personnel in a number of the sectors in which it operates.
CPL chief executive Anne Heraty added that demand in the financial sector also remained strong.
She said CPL increased its overall permanent placement business by 16pc in the past year. At the end of June, CPL had 8,223 people on its books working for client projects, 5pc more than it did a year earlier.