Cpl Delivers 23% EPS Growth in the First Half of Financial Year 2020

On 23 January 2020 the Cpl Group, Ireland’s leading talent and workforce solutions group, announced results for the half-year ended 31 December 2019. Cpl delivers 23% EPS growth in the first half of the financial year 2020, with our key financial highlights below:

Key Financial Highlights

  • 5% increase in revenues to €291.4 million
  • 10% increase in gross profit (net fee income) to €51.1 million
  • 24% increase in adjusted profit before tax to €14.2 million
  • 23% increase in earnings per share to 42.9 cent
  • 25% increase in interim dividend to 10.0 cent per share
  • Gross margin up 80 basis points to 17.5%
  • Adjusted operating margin up 70 basis points to 4.9%
  • Net cash of €47.1m (2018: €30.2m)

John Hennessy, Chairman, commented:

“I am pleased to report that in the six months to 31 December 2019, the Group delivered another set of strong results with double-digit earnings growth and improved margin performance.

Whilst we remain conscious of the impact political, regulatory and economic events globally can have on our business, we now expect profit before tax for the full year to be ahead of current market expectations.”

Anne Heraty, CEO, added:

“It has been another period of very robust growth for Cpl as the Group delivered a 10% increase in net fee income and a 23% increase in earnings. During the six-month period, we made additional investment in products focused on innovative technology solutions, adding further value for our clients.

We continue to see increasing client demand for solution oriented and flexible workforce models. With our recent investments in the “Future of Work Institute” initiative and our managed solutions division “Covalen”, we believe that Cpl is well-positioned to deepen our client relationships further, both domestically and internationally.”

For further information, please contact Cpl Resources Plc +353 1 614 6000 or you can view the report in full here.