Recruitment group CPL Resources says it remained profitable in the year to the end of June, despite the sharp fall in employment in the economy, which has led to weaker demand for recruitment services.

In a trading update, CPL said that it expected its profit for the year to be in line with market expectations. CPL said its forecast did not include impairment charges.

In a note this morning, Goodbody analyst Dan Cavanagh said he was expecting operating profit of €4.9m for CPL in the year to June 30.

CPL also said it was impossible to predict with any accuracy whether its markets would experience any significant improvement in the foreseeable future. 'Accordingly, the outlook for the group for the remainder of 2009 remains uncertain,' it added.