Shares in recruitment group CPL dived by more than 25% today after it issued a profit warning as a result of a decline in the recruitment of permanent staff.
The company said that the reduction in economic growth and activity in Ireland and elsewhere in recent months has had an adverse effect on many of the markets in which CPL operates.
'As a result, employment activity, and particularly the recruitment of permanent staff, has declined'.
CPL said it now expects its profit before tax for the year to June 30 2008 to be approximately 15% below current market expectations.
It added that it expects to update the market further with a pre-close trading statement ahead of the results.
Shares in the company closed down 95 cent at €2.67 in Dublin.
