Cpl Resources Plc, which has offices in Belfast and Derry today announced its results for the half year ended 31 December 2016.

Half year highlights

• 6% increase in revenues to €228.7 million

• 6% increase in gross profit (net fee income) to €36.2 million

• Profit before tax of €8.1m a 7% increase

• Earnings per share increases 8.5% to 23.0 cent

• 10% increase in interim dividend to 5.75 cent per share 

The company which has 37 offices across 10 countries and recently created 15 new jobs in Northern Ireland experienced further improvements in trading conditions in certain market areas. Revenues for the six months to 31 December 2016 increased by 6% to €228.7 million. Gross profit increased by 6% against the same period last year to €36.2 million. The Group’s adjusted operating profit, which excludes non–cash foreign exchange and LTIP charges, was €9.0 million for the six months to 31 December 2016, a 6% increase on the same period last year. 

Cpl which employs 700 people in recruitment, 2,000 in managed services and 10,000 on client sites across its global business has opened new Belfast offices to accommodate its growing local team and launched a new graduate recruitment programme for Northern Ireland this month.

Commenting on the Group results Áine Brolly CEO of Cpl Solutions International said:

“In the six months to 31 December 2016 the Group delivered continued growth in revenues, net fee income and profits. The strength of the Group’s Balance Sheet reflects the positive cash–generating capability of Cpl and we remain confident in the outlook for the business and expect to deliver continued profitable growth for the remainder of the financial year. In Northern Ireland we continue to develop our business and have launched a targeted recruitment drive which reflects the considerable opportunities that we believe exist within the local economy.”

Political and economic events globally during the period have had limited impact on the company which has seen continued organic growth. During 2017 the company expects the outcome of these events to become clearer, presenting both opportunities and challenges across key business sectors.

Áine continued:

“In Northern Ireland we have restructured and reshaped the business to support expansion in the market through our strategy of rapid growth including the potential for the acquisition of locally based recruitment companies. Our team has doubled over the last year and we have launched a new graduate programme creating 10 new Associate Consultant roles with an additional 5 senior roles being developed this year to support our ambitious plans for growth. “

ENDS

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