Shares in recruitment group CPL Resources soared almost 9% higher at one stage today after it said it expects its profit before tax for the full year to be ahead of current market expectations.

CPL Resources said its adjusted profit before tax for the six months to the end of December rose by 24% to €14.2m from €11.5m the same time the previous year.

In its results statement, the company also reported a 5% increase in revenues to €291.4m and declared an interim dividend of 10 cent per share.

This is an increase of 25% on last year's interim dividend and the company said the increase reflected its strong performance in the six month period.

CPL said that growth during the six months was all organic with both divisional segments reporting an increase of 10% in net fee income. 

It said the "Permanent" division benefited from favourable economic conditions in its key markets and, in particular, from strong growth in the technology and UK healthcare sectors.  

Meanwhile, its "Flexible Talent" division continues to grow as it responds to an increasing demand globally for more flexible workforce solutions.

Covalen, its recently launched managed solutions brand, was a key contributor to the growth of this division, the company noted.

Anne Heraty, the chief executive of CPL, said that during the six months to December the company made additional investment in products focused on innovative technology solutions

She also said the company continues to see increasing client demand for solution oriented and flexible workforce models. 

CPL chairman John Hennessy said that as the company moves into the second half of its financial year, it continues to closely monitor activity levels in its key markets. 

"We remain conscious of the impact that political, regulatory and economic events globally can have on our business, in particular the implementation of Brexit," the chairman said.

"However, economic indicators remain broadly positive, with high demand for talent and low unemployment rates in our most important markets," he said.

"We remain confident in the outlook for our business. As a result, we now expect profit before tax for the full year to be ahead of current market expectations," he added.

Shares in the company closed 3.8% higher in Dublin trade today.