3rd Sep 2015 07:41
LONDON (Alliance News) - Irish recruiter CPL Resources PLC on Wednesday said pretax profit was pushed slightly lower in its 2015 financial year by continued pressure on margins in its temporary business and by investments it has made, but revenue and gross profit for the group rose and it said it has acquired a new recruitment firm in the UK.
CPL said its pretax profit for the year to the end of June was down to EUR14.1 million from EUR14.4 million, despite its gross profit increasing to EUR58.7 million from EUR54.7 million and revenue rising to EUR393.6 million from EUR369.3 million.
The decline in pretax profit was caused by depressed margins in its temporary business, though this has eased and both revenue and gross profit were higher. Permanent placement fees rose by 16% year-on-year, as demand for both permanent and temporary roles improved. Margins also were pulled lower by the company investing in its teams and systems in the year.
CPL said it will pay a final dividend of 5.0 euro cents per share, meaning its total dividend will be flat at 9.75 cents.
Separately, CPL said it has struck a deal to acquire a majority stake in UK-based pharmaceutical and life sciences recruitment company Clinical Professional Ltd for around EUR8.0 million.
"I am pleased to report that the 12 months ended 30 June 2015 has been another year of growth for CPL. Economic indicators in our main markets are positive, and we have invested in strengthening our team and our systems to allow us to meet demand as these markets continue to recover and grow," said Chairman John Hennessy.
CPL shares were untraded in London at 412.50 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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