Employment services group CPL Resources has reported higher profits and revenues for the year to the end of June as the company continued to expand its international presence.

CPL said its pre-tax profits for the year rose by 3% to €15.8m, while revenues rose by €21.8m, or 5%, to €455.2m.

Its shares moved sharply higher in Dublin trade today.

The company said it was recommending a final dividend of 5.75 cent per share. This will bring the total dividend for the year to 11.5 cent per share, up from 11 cent last year.

During the year the company opened new offices in Munich and Boston and it now has over 40 offices in ten countries.

In today's results statement, CPL said it had decided that a return of surplus capital was "in the best interests of its shareholders". 

"Consequently, subject to shareholder approval, we intend to return up to €25m of surplus capital, in the form of a tender offer, to shareholders," the company said.

CPL Resources chief executive Anne Heraty said the company will continue to invest wisely to capture opportunities for growth. 

"CPL has a strong balance sheet with net assets of €103.7m generated over the 27 years of continuous profitability. We believe our balance sheet and strong cash flows give us the resources to invest in the growth and expansion of our business while also returning capital to shareholders," the CEO added.

Looking ahead, CPL Resources said that market conditions across the sectors in which it operates are mixed. 

Economic trends are favourable with strong employment growth in Ireland and the euro zone and joblessness in Ireland is expected fall to less than 6% by the end of the year.

But the company said that considerable risks are still on the horizon. 

It said it was "mindful" of the uncertainty that Brexit creates in its core markets and it is closely monitoring the potential impacts both positive and negative of Brexit on the business. 

"On the positive we have seen an increase in enquiries from companies looking to establish in Ireland and increased demand for insurance financial services and fintech talent. On the negative, there are threats to employment in sectors exposed to the UK," the company added.