Business Irish

Friday 18 January 2019

Rise in flexible working helps boost Irish recruitment firm Cpl to double-digit growth

CPL chief executive Anne Heraty Picture: Kip Carroll
CPL chief executive Anne Heraty Picture: Kip Carroll
Louise Kelly

Louise Kelly

Gross profit at Cpl Resources has increased by 16pc to €83.2m as the company notes continued growth in the flexible talent segment.

According to the Irish recruitment group, profit before tax has jumped 18pc to €18.5m and revenue has increased by 15pc to €522.7m.

The double digit growth for the Dublin and London-listed firm's year end results has exceeded analysts expectations.

Popularity in the flexible working sector has resulted in the major boost for the group, the segment representing 68.4pc of gross profit.

Chairman John Hennessay said that current market conditions of high demand for talent and low unemployment rates have been favourable.

After returning €25m to shareholders, Cpl closed the year with a net cash balance of €24.2m, according to CEO Anne Heraty.

"As the world of work evolves and employee and employer expectations change, the demand for flexibility has strengthened," she said.

Cpl's flexible talent net fee income grew by 24.5pc to €56.9m during the year, compared with €45.7m last year.

The group also noted the appointment of Lorna Conn as Group CFO in October 2017 and to the board in July 2018.

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