Recruitment group CPL Resources has said that current market conditions continue to be impacted by the economic slowdown associated with Covid-19.
In a trading update for the six months to the end of June, the company said that impact is expected to continue through fiscal 2021.
It said it will continue to monitor the situation closely and provide updates where appropriate.
Since the outbreak of Covid-19, CPL said it has successfully mobilised office-based employees to a remote working environment, adding that it has ensured business continuity by working closely with employees, candidates and clients.
The company said that since March trading in its Flexible Talent business, which represents over 70% of its net fee income, was "resilient" and has continued to perform well with solid demand across the pharmaceutical, life science and technology sectors.
But its Permanent placement business was negatively impacted as hiring activity was reduced across many sectors.
"Given the group's strong performance in the first nine months of the financial year, together with cost initiatives adopted in response to Covid-19, adjusted profit before tax for the full year to 30 June 2020 is expected to be broadly in-line with market expectations," the company said.
"CPL has a strong balance sheet, which continues to support the working capital requirement of our Flexible Talent business," it added.
