Business Irish

Wednesday 27 March 2019

CPL Resourcs expects profit to be 'in line with expectations'

CFO Lorna Conn has been appointed to the Board of Directors
CFO Lorna Conn has been appointed to the Board of Directors
Ellie Donnelly

Ellie Donnelly

Irish-listed Cpl Resources has said it expects its profit before tax for the year to 30 June 2018 to be 'in line with market expectations'.

The results will be announced in September, the company said in an trading update today.

According to Davy Analysts, the group is expected to report an adjusted profit before tax of €19.1m for the year, up 15pc year-on-year.

In a note today in respect of the recruitment firm, Davy said that a continued strong temp work performance from the group is "encouraging" as it demonstrates Cpl’s ability to capitalise on a shift by its client companies and candidates towards favouring more flexible employment structures.

Cpl described current market conditions as "favourable", with a high demand for talent and low unemployment rates in key markets.

However, the group warned that it remains conscious of the impact of political, regulatory and economic events globally on its business.

The company also used the update to announce the appointment of Lorna Conn, chief financial officer of Cpl, to the board of the company with immediate effect.

Ms Conn joined the company as CFO in October last year, having previously held senior roles in a number of public companies.

"On behalf of the directors of the company I would like to welcome Lorna to the board," John Hennessy, chairman of Cpl, said.

"She has already made a valuable contribution to the group since joining as chief financial officer and we look forward to having the benefit of her experience, energy and expertise on the board as Cpl pursues its next phase of growth".

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