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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 &euro235 million

" 81% increase in operating profit to &euro7.2 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 &euro5.6 million

" Strong balance sheet with 7% increase in net cash to &euro46 million

Highlights

2011

2010

% change

&euro 000's

&euro 000's

Revenue

235,311

189,856

24%

Operating profit

7,189

3,965

81%

Profit before tax

8,132

5,291

54%

EPS

19.2 cent

12.2 cent

57%

Dividend per share

5.0 cent

4.0 cent

25%

Cash generated from operations

5,563

3,951

41%

Net cash at year end

46,324

43,461

7%

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 &euro5.6m. Cpl has a strong balance sheet, with an increased year-end net cash balance of &euro46.3 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 &euro20 million of surplus capital, in the form of a Tender Offer, to shareholders."

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