Revenue and profit at recruitment firm CPL Resources jumped in the year to the end of June, reflecting strong growth across its business sectors and markets
CPL said its gross profits rose by 16% to €83.2m on the back of a 15% rise in revenue to €522.7m. Pre-tax profits for the year grew by 18% to €18.5m.
The company's board is recommending a final dividend of 7.15 cent per share for the year.
This will result in a total dividend per share for the year of 13.5 cent, a 17% increase from the previous year.
"Current market conditions are favourable with high demand for talent and low unemployment rates in our key markets," commented the company's chairman John Hennessy.
"We expect that these factors, together with the efforts of our people, will allow us to deliver further growth in our business during the financial year to 30 June 2019," he added.
In today's results statement, CPL's chief executive Anne Heraty noted that economic trends are favourable with strong employment growth in Ireland and across the euro zone.
"Investment continues to be made within FDI across key sectors including Financial Services, ICT and Pharma, with a renewed focus on regional diversification in Ireland," she said.
"Our national footprint will serve us well in this regard," the CEO added.
But she also cautioned that risks remain. "We are mindful of the remaining uncertainty that Brexit creates in our core markets and we are monitoring any potential impacts, both positive and negative, of Brexit on our business," Ms Heraty stated.
CPL delivers services through two operating segments - flexible talent and permanent recruitment.
The company said the demand for flexible talent solutions has strengthened and as a result, it grew its flexible talent net fee income by 24.5% to €56.9m during the year.
It noted that "highly skilled professionals", particularly in ICT, finance and engineering, are choosing to work on a project or contract basis.
"This global shift in working preferences presents a huge opportunity for CPL, with potential for significant growth within our managed services division," the company said.
CPL also said its permanent net fee income increased by 1% to €26.3m for the 12 month period.
It said that most of its permanent placement work is undertaken on a contingent basis, which means CPL only generates revenue when the candidate successfully starts in a role.
"The economic outlook for the geographies in which we operate is favourable and the demand for talent in the technology, pharma and financial services sectors remains strong," it said.
It added that it is continuing to add selectively to our teams in certain sectors to support growth in permanent placement fees.
"CPL has a strong balance sheet with net assets in excess of €92m, generated over 28 years of continuous profitability," the company's CEO said.
"We believe our balance sheet and strong cash flow generation gives us the resources to invest in the growth and expansion of our business while also providing an attractive return to shareholders," Anne Heraty said.
Shares in the company moved higher in Dublin trade today.
