Cpl Resources plc Announces Results for the Full Year Ended 30 June 2011

Cpl Resources plc Announces Results for the Full Year Ended 30 June 2011

Cpl Resources plc (the 'Group' or the 'Company'), Ireland's leading employment services group, today announced results for the year ended 30 June 2011.

Full Year Highlights

" Strong full year operating performance

" 24% increase in revenue to €235 million

" 81% increase in operating profit to €7.2 million

" Earnings per share increased by 57% to 19.2 cent

" Final dividend per share of 2.5 cent delivering total dividend per share of 5 cent (2010: 4 cent)

" 41% increase in operating cash flow to €5.6 million

" Strong balance sheet with 7% increase in net cash to €46 million

John Hennessy, Chairman commented:

"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. Cpl has a strong balance sheet, with an increased year-end net cash balance of €46.3 million."

Mr Hennessy added:

"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 €20 million of surplus capital, in the form of a Tender Offer, to shareholders."