CPL expects full-year pre-tax profits of €14 million

Irish recruitment group CPL Resources said it expects pre-tax profits for the year to the end of June to be in line with market expectations of approximately €14 million.

In a trading update issued on Friday, the group said its balance sheet remains strong with cash balances in excess of €30 million at the end of last month.

CPL intends to announce full-year results on September 2nd.

In January, the group reported record revenues for the first half of its financial year as sales rose by 14 per cent to €184.3 million on the back of strong growth in permanent job placements.

Pre-tax profits jumped 17 per cent, up to €7 million, in the six months to December 31st, 2013, while operating profits grew by 18 per cent to €6.9 million.