Wednesday 16 October 2019

Recruiter CPL aims to beat profit expectations

Recruitment group CPL Resources expects its profit before tax for the year to come in
Recruitment group CPL Resources expects its profit before tax for the year to come in "ahead of market expectations". Stock image
Ellie Donnelly

Ellie Donnelly

Recruitment group CPL Resources expects its profit before tax for the year to come in "ahead of market expectations".

In a trading update, the group said it had performed well in the second half of its financial year, which ended on June 30. It added that its balance sheet and cash flow "remain strong".

Please log in or register with Independent.ie for free access to this article.

Log In

CPL pointed to current market conditions as being "favourable", with high demand for talent and low unemployment rates in key markets.

"However, we remain conscious of the potential impact of political and economic events globally on our business," it added.

Gerry Hennigan, analyst at Goodbody Stockbrokers, said he expects the company's profit before tax for the year to be around €22.1m, which implies year-on-year growth of 19pc. In the first half of its financial year (to December 31, 2018), the group reported double-digit growth in profits, up 23pc to €11m.

The company plans to announce full-year results on September 10.

Last summer, the group hit the headlines when a Channel 4 Dispatches documentary showed members of its staff who were working with Facebook being instructed not to remove extreme, abusive or graphic content from the social media giant's website - even though the material breached guidelines.

There has been no sign in the results and trading updates of an impact on the business as a consequence of the documentary.

Irish Independent

Also in Business