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CPL Resources plc Wary of Future Visibility

CPL Resources plc Wary of Future Visibility

CPL Resources plc, Ireland's leading employment services group, yesterday held its Annual General Meeting in Dublin, Mr John Hennessy, CPL Chairman, made the following statement on current trading:

“At the time of the announcement of the Group’s full year results to 30 June, 2011, CPL reported a strong operating performance delivering significantly increased revenue and profitability. The Group also reported strong cash flow and a strengthened balance sheet.”

“Since then, our principal markets have remained challenging. However, as a result of our continuing focus on revenue growth and operating cost control, we will deliver further profitable growth in the six months to 31 December 2011.

Although there are some signs of improvement in certain sectors in which we operate, continuing uncertainty in the broader economy makes it impossible to provide any meaningful forecast of trading conditions beyond the end of the current calendar year. However, our business model and strong balance sheet will position us well for any upturn in the markets we serve.”

Audit Committee Appointment

CPL announces that Mr Oliver Tattan, an independent non-executive Director, has been appointed to the Audit Committee with effect from 27th October 2011. The Audit Committee will now comprise Mr Breffni Byrne, Mr John Hennessy and Mr Oliver Tattan.

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