Profits at recruitment firm CPL soar above €14 million

This article originally appeared in the Irish Times

Recruitment group CPL Resources made pre-tax profits of €14.4 million for the six months to the end of June, up 17 per cent on the same period in 2013.

The Dublin and London listed company said revenue rose by 12 per cent to €369.3 million, while operating profits grew by 21 per cent to €14.2 million.

The company also reported a 16 per cent increase in earnings per share to 40.7 cent.

CPL chief executive Anne Heraty said the company achieved “record revenues and gross profit”, with gross profit increasing by 12 per cent to €54.7 million in the year.

She said the labour market continues to recover with total employment on the rise in both the international and domestic sectors of the economy.

“Companies are gaining the confidence to invest in hiring people on a permanent basis,” she added.

The group continues to have a strong balance sheet, with net assets in excess of €72 million at 30 June 2014 and net cash of more than €30 million at that date.