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CPL Resources posts 25% jump in H1 pre-tax profits

Half yearly revenues at the recruitment company rose by 12% to €216.4m
Half yearly revenues at the recruitment company rose by 12% to €216.4m

CPL Resources has reported pre-tax profits of €7.571m for the six months to the end of December, an increase of 25% on the same time the previous year

Revenues at the recruitment company rose by 12% to €216.4m and CPL said that it saw growth across all of its main business units and markets.

The group posted earnings per share of 21.2 cent for the six month period, up 23% on the same time last year. 

The acquisition of Clinical Professionals in September 2015 also contributed to its strong performance during the six month period, it added.

The company said it saw improvements in conditions in its markets, including those outside of Ireland. But it noted that skills shortages in some sectors continued to cause challenges. 

CPL said its Board has proposed to pay an interim dividend of 5.25 cent per share, an increase of 11% on last year's interim dividend. It said this reflects its "strong performance in the period and attractive prospects".  

"While the pace of growth in many markets remains somewhat uncertain, we remain confident in the outlook for the business and expect to deliver continued profitable growth for the remainder of the financial year," the company's chairman John Hennessy said.

Shares in the company closed higher in Dublin trade today.