19% increase in gross profit YoY for Cpl Resources
Cpl Resources Plc has announced results for the year ended 30th June 2016.
Revenue increased by €39.7m, to €433.4m, an increase of 10%. Gross profit increased by 19% to €70.1m. Operating profit increased by 10% to €15.4m.
The group reported a 22% increase in adjusted profit before tax to €17.4m.
Cpl reported earnings per share of 43.9 cent (2015: 40.2 cent) and total dividend per share of 11.0 cent (2015: 9.75 cent).
The Group says its results for the year reflect strong growth across our business sectors and markets, combined with the effect of the acquisition of Clinical Professionals in September 2015. It states this strong performance is a result of a clear focus by its team on continuing to grow its existing business, selectively expanding our product offering and the markets it serves, and concentrating on managing costs and improving margins.
During the year, demand for people in both permanent and temporary roles grew across most sectors. Its fees from temporary and permanent placements grew by 18% and 21% respectively year on year. In the group’s temporary business, the growth in revenues was supplemented by an improvement in its margins.
During the year ended 30th June 2016, Garret Roche resigned from the Board of Cpl Resources plc. As an executive director since its flotation, Roche made a huge contribution to the very substantial growth and success of the Group in that time. He continues to play a very important leadership role in the business.
Mark Buckley joined the Board during the year. Buckley has been the Group's chief financial officer since July 2013 and he has contributed strongly to the Group's success since his appointment, both in the financial area and more generally as a member of Cpl's senior management team.
John Hennessy, chairman, commented, "I am pleased to report that the 12 months ended 30 June 2016 has been a year of growth for Cpl, resulting in record revenues and net fee income. These results have been achieved in a challenging and highly competitive environment and reflect the outstanding service delivered to our clients by all of our people. Employment trends and economic indicators are broadly positive in our principal markets, and we expect to continue to grow profitably in the months ahead."
Anne Heraty (pictured), CEO, added, "Cpl had a record year, with revenues and gross profits of €433.4m and €70.1m respectively. The investments we made over the past 18 months in people, in technology and in our talent innovation hub are paying off. We are committed to delivering outstanding service to our clients and candidates, supporting them to succeed in a changing environment. I am particularly pleased that we ended the year with in excess of 12,000 people working with or on behalf of Cpl, an increase of over 1,700 in the year."