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Ireland – Cpl Resources expects more profit

24 October 2012

Cpl Resources (DQ5:ISE), Ireland’s largest staffing company, is expecting further profits in the months ahead after growing full-year revenue to a record high in 2012, the firm reported on Tuesday.

Following Cpl’s Annual General Meeting on 22 October 2012, Chairman John Hennessy said: “When we announced our 2012 results I indicated that we expected to deliver some further profitable growth in the months ahead.

“Although economic conditions in our principal markets remain challenging, we expect … to report some further growth in profits for the six months to 31 December 2012.”

Last month, the recruiter posted the highest revenue figure in its 22-year history, with revenue rising +23% to €290.24 million while operating profit was up +39%. The firm also reported good cash flows and a healthy balance sheet.

Earnings per share, an indicator of the company’s profitability, increased +33% in the year. The firm now has a market value of €98.39 million and is among the 50-largest staffing companies based on market capitalisation, according to research by Staffing Industry Analysts.  

Cpl dominates the Irish staffing market with over twice the market share of its closest rival, specialist provider CAE Parc. The firm operates internationally and provides recruitment services including temporary staffing, permanent recruitment, managed services and outsourcing.

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