CPL Resources PLC Trading Update (6073Q)
October 21 2019 - 12:00PM
UK Regulatory
TIDMCPS
RNS Number : 6073Q
CPL Resources PLC
21 October 2019
21 October 2019
Cpl Resources Plc
Trading Update
Cpl Resources Plc ('Cpl' or the 'Group'), Ireland's leading
workforce solutions group, held its Annual General Meeting ('AGM')
in Dublin this afternoon.
Trading Update
At the AGM, Chairman Mr John Hennessy made the following
statement:
"On 10 September 2019 we announced our results for the year
ended 30 June 2019. The Group reported record revenues in excess of
EUR564 million and exceptional earnings growth. The Group reported
a strong balance sheet position, closing the year with net assets
of EUR110 million and a net cash balance of EUR40 million,
demonstrating the profitable, cash generative nature of our
business and the effectiveness of our working capital
management.
At our AGM today, our shareholders approved a final dividend of
11.0 cent per share, bringing the total dividend for the year to a
record 19.0 cent per share, an increase of 41%.
The Group has had a positive start to the new financial year.
Our Flexible Talent division continues to perform well as we meet
our clients' growing desire for more flexible workforce solutions.
Covalen, our managed solutions brand, was launched in Ireland on 2
October 2019 and will be launched in key European countries later
in the financial year.
We are conscious of the uncertainty that continues regarding
Brexit and the terms of the UK's proposed departure from the EU.
Like many other businesses in Ireland, we will continue to monitor
developments closely and we are prepared should conditions
change.
We continue to pursue organic growth and explore potential
strategic partnerships and acquisitions that will allow us to grow
profitably and continue to provide an attractive and sustainable
return to shareholders. Regarding the current year, we expect to
perform in line with market expectations in the months ahead.
-End-
For Further Information:
Anne Heraty, CEO, Cpl Resources Plc: +353 1 614 6000
Lorna Conn, CFO, Cpl Resources Plc: +353 1 614 6000
Ivan Murphy/ Daragh O'Reilly, Davy Corporate Finance: +353 1 679
6363
Melanie Farrell/ Jonathan Neilan, FTI Consulting: +353 1 765
0888
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END
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