Cpl Resources (CPL: ID) the Irish recruitment firm reported revenue for the full year to 30 June 2016. The Group's results reflect growth across business sectors and markets, combined with the effect of the acquisition of Clinical Professionals in September 2015.

During the year demand for people in both permanent and temporary roles grew across most sectors. The company’s fees from temporary and permanent placements grew by 18% and 21% respectively year-on-year. In their temporary business, the growth in revenues was supplemented by an improvement in margins.

John Hennessy, Chairman commented: “The year to the end of June 2016 has been a year of growth for Cpl, resulting in record revenues and net fee income.  These results have been achieved in a challenging and highly competitive environment and reflect the outstanding service delivered to our clients by all of our people.  Employment trends and economic indicators are broadly positive in our principal markets, and we expect to continue to grow profitably in the months ahead.”

Anne Heraty CEO added: “Cpl had a record year, with revenues and gross profits of €433.4m and €70.1m respectively. The investments we made over the past 18 months in people, in technology and in our talent innovation hub are paying off. We are committed to delivering outstanding service to our clients and candidates, supporting them to succeed in a changing environment. I am particularly pleased that we ended the year with in excess of 12,000 people working with or on behalf of Cpl, an increase of over 1,700 on the year.”

Describing the company’s outlook John Hennessy said “Economic indicators, including employment trends, are currently broadly positive in our principal markets.  Our industry remains highly competitive, and our continued growth is sensitive to events affecting the wider European and global economies.  The "Brexit" referendum result continues to give rise to uncertainty in our main markets, particularly in the U.K., and to a lesser extent in Ireland.  We remain of the view that "Brexit" will present both challenges and opportunities for our business, and we continue to monitor developments closely.

Current indicators suggest that modest economic growth will continue in our principal markets.  Accordingly, we expect to deliver further profitable growth in our business during the financial year to 30 June 2017.

In trading today, CPL Resource’s share price rose 4.12% to €5.55, 15.61% above the 52 week low of €4.80 set on 22 August 2016. Based on its current share price, the company has a market value of €162.8 million.