Cpl delivers record revenues in excess of €500m & double-digit growth

We’re happy to announce our results for the year ended 30 June 2018. Cpl has delivered record revenues in excess of €500m and double-digit growth across all key metrics. See below for full details and financial and operational highlights:

Financial Highlights

  • Revenue increased by 15% to €522.7m
  • Gross profit increased by 16% to €83.2m
  • 18% increase in Profit before tax to €18.5m
  • Earnings per share of 56.6 cent, a 30% increase on 2017
  • Total Dividend per share of 13.5 cent, up 17% on 2017
  • Capital return of €25m to shareholders during the year

Operational Highlights

  • Continued growth in flexible talent segment, representing 68.4% of gross profit
  • Development of new innovative technology solutions to enhance recruitment process
  • Lorna Conn appointed as Group CFO in October 2017 and to the Board in July 2018

John Hennessy, Chairman commented:

“The Group’s results for the year ended 30 June 2018 show double-digit growth across all key metrics, reflecting strong growth across our business sectors and markets. This performance reflects the clear focus by our team on continuing to grow our business, evolving our product offering to meet shifting workforce preferences and concentrating on managing our cost base and improving margins.

Our success is driven by the talent, expertise and commitment of our people and their dedication to delivering service excellence to our candidates and clients. We are fortunate to have the calibre of people we have in Cpl, who believe deeply in what we do and are committed to delivering service standards to the highest level.

Current market conditions are favourable with high demand for talent and low unemployment rates in our key markets. We expect that these factors, together with the efforts of our people, will allow us to deliver further growth in our business during the financial year to 30 June 2019.”

Anne Heraty, CEO added:

“In the financial year to June 2018 revenue increased by 15% to €522.7 million, gross profit increased by 16% to €83.2 million and profit before tax increased by 18% to €18.5 million. After returning €25 million to shareholders by way of fixed price tender offer, we closed the year with a net cash balance of €24.2 million demonstrating the strong cash generating characteristics of the business.

Our vision as we grow is to be the world’s best at transforming our clients through total talent solutions and experiences. As the world of work evolves and employee and employer expectations change, the demand for flexibility has strengthened. As a result, we grew our flexible talent net fee income by 24.5% to €56.9 million during the year (2017: €45.7 million). We finished the year with 12,296 skilled people working on behalf of Cpl on client engagements.”

Click here to see the full results.

Listen to Cpl CFO Lorna Conn on RTÉ Radio 1