Irish recruitment firm Cpl Resources announced a trading update during its Annual General Meeting yesterday. Earlier this year the group announced a proposal to return €25 million in capital to all shareholders by way of a tender offer.

The AGM was followed by an Extraordinary General Meeting to consider the resolutions necessary to implement a capital return of €25 million by way of a tender offer. Cpl shareholders had earlier approved all resolutions proposed at the AGM and EGM.

“The group has had a solid start to the new financial year. The UK healthcare segment continues to be challenging,” Chairman John Hennessy said. “Economic indicators today remain positive and we expect to perform in line with market expectations in the months ahead.

“We continue to grow organically and explore potential strategic partnerships and acquisitions in our key sectors and markets,” Hennessy said. “The effects of Brexit still remain unclear and our position remains that there will be both challenges and opportunities for Cpl".

Last month the group reported revenue for the full year ended 30 June 2017 of €455.2 million.

In trading yesterday Cpl Resources traded at €6.50, up 0.62% on the day. Based on its current share price the company has a market value of €200.7 million.