Recruitment firm CPL Resources increased profit and revenue in the second half of 2007, helped by growing demand for temporary workers, writes Ciara O'Brien.
Fees for non-permanent staff rose 50 per cent year-on-year as demand for contract and temporary staff grew across all sectors.
Total revenue at the firm rose 40 per cent to €132 million for the six months ended December 31st, while gross profit climbed to €27.8 million.
Profit before tax increased 45 per cent to €11.7 million, with earnings per share rising to 27.4 cent.
Meanwhile, revenues from CPL's permanent placement business during the six months rose by 32 per cent, fuelled by increased demand for IT, telecoms and finance professionals.
An interim dividend of 2.5 cent has been recommended by the board. CPL has expanded its operation in recent months, acquiring recruitment firms Kate Cowhig International Ltd, the Richmond Recruitment Group and Northside Recruitment Ltd.
In July the company bought Allied Nurses Agency, which provides locum nurses and healthcare assistants in Ireland, to further its reach in the healthcare market.
Despite what the company described as a "less favourable" economic environment in Ireland, CPL is expecting its performance over the coming months to continue to be favourable.
It also plans to invest further in its central European operations.
The firm has offices in Prague, Bratislava and Warsaw, and acquired 75 per cent of Czech-based Key 6 Business Solutions' share capital earlier this year.
