CPL Resources PLC Trading Update (3278N)

TIDMCPS

RNS Number : 3278N

CPL Resources PLC

24 October 2016

24 October 2016

Cpl Resources plc

Trading Update

Cpl Resources plc ('Cpl' or the 'Group'), Ireland's leading employment services group, held its Annual General Meeting ('AGM') in Dublin on 24 October 2016.

At the AGM, the Chairman Mr John Hennessy made the following statement:

"On 1 September 2016 we announced a strong set of results for the year ended 30 June 2016. The Group reported a 23% increase in adjusted operating profit to EUR17.4 million, record revenues of EUR433.4 million and an earnings per share of 43.9 cent. The Group has a strong balance sheet, with more than EUR33 million in net cash at the year end.

At our AGM today the shareholders approved a final dividend of 5.75 cent per share, bringing the total dividend for the year to 11.0 cent per share, an increase of 13%.

The Group has had a solid start to the new financial year with net fees continuing to show organic growth. Economic indicators today remain positive and we expect to perform in line with market expectations in the months ahead.

We continue to grow our business organically and we plan to open new offices during this financial year in Munich and Boston. We continue to explore some potential strategic partnerships and acquisitions in our key sectors and markets.

The effects of Brexit still remain unclear and our position remains that there will be challenges and opportunities for Cpl".

-End-

For Further Information:

Anne Heraty, CEO, CPL Resources Plc: [phone]

Mark Buckley, CFO, CPL Resources Plc: [phone]

Ivan Murphy/ Daragh O'Reilly, Davy Corporate Finance: [phone]

This information is provided by RNS

The company news service from the London Stock Exchange

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October 24, 2016 12:00 ET (16:00 GMT)