Revenues rise at Cpl Resources
Irish recruiter Cpl Resources has seen revenue and profits rise, according to results for the year ended 30 June 2011.
The group’s results reveal:
Irish recruiter Cpl Resources has seen revenue and profits rise, according to results for the year ended 30 June 2011.
The group’s results reveal:
| Highlights | 2011 | 2010 | % change |
| €000s | €000s | ||
| Revenue | 235,311 | 189,856 | +24% |
| Operating profit | 7,189 | 3,965 | +81% |
| Profit before tax | 8,132 | 5,291 | +54% |
| Net cash at year end | 46,324 | 43,461 | +7% |
Chairman John Hennessy says: “I am very pleased to report that in the year ended 30 June 2011 the Cpl Group delivered a strong operating performance and recorded significant increases in revenues and profits. The group is cash generative and, despite increased working capital requirements in the period, generated operating cash flow of €5.6m (£4.8m). Cpl has a strong balance sheet, with an increased year-end net cash balance of €46.3m.
“The board has determined that, given the strength of the balance sheet, and taking account of continued positive cash flow generation, a return of surplus capital is in the best interests of shareholders as a whole. Subject to shareholder approval, we intend to return up to €20m of surplus capital, in the form of a Tender Offer, to shareholders.”
