Belfast Telegraph

Growth in flexible working helps recruitment firm Cpl notch up 18% rise in profits

Northern leader: Aine Brolly
Northern leader: Aine Brolly

By Margaret Canning

An Irish recruitment company with operations in Belfast has reported an 18% jump in pre-tax profits to €18.5m (£16.4m).

Weekly Business Digest Newsletter

This week's business news headlines, directly to your inbox every Tuesday.

Revenues at listed company Cpl Resources were also up 15% to €522.7m.

The business employs around 30 people in Northern Ireland, where it is led by Aine Brolly.

Gross profit at Cpl Resources, which offers recruitment, outsourcing and talent consulting, increased by 16% to €83.2m.

The results for the year ending June 30 also showed a growth in flexible working, which accounted for 64.8% of revenues.

Chairman John Hennessy said the results showed double-digit growth in key metrics, "reflecting strong growth across our business sectors and markets".

CEO Anne Heraty said the company returned €25m to shareholders.

It was also able to close the year with a net cash balance of €24.2m, "demonstrating the strong cash-generating characteristics of the business".

She added: "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 €56.9m during the year (the 2017 figure was €45.7m).

"We finished the year with 12,296 skilled people working on behalf of Cpl on client engagements."

Belfast Telegraph