Cpl Resources Share Discussion Threads

[dusty35] 20/2/2007 10:44

People have got to look at this at some point - its worth 10.

[primrose 100] 09/2/2007 12:16

Up another 4% today.

I'd urge anybody who hasn't looked at these before to take a close look.

This is a GREAT company.

[primrose 100] 08/2/2007 12:19

Up 3% again today.

Should break the £5 mark shortly.

[primrose 100] 05/2/2007 10:16

Why doesn't one of you go first & I'll follow.

[dusty35] 31/1/2007 11:59

I agree L3gend - give me some proper analysis.

[primrose 100] 29/1/2007 09:10

please stop being a busy body

[l3gend] 28/1/2007 11:58

please stop being a news reporter.

[primrose 100] 26/1/2007 14:56

Nobody else interested in CPL's fantastic results?

[primrose 100] 25/1/2007 09:50

This is about the 5th time that my initial headline has been accurate.

CPL come out with stellar rerults after stellar results after stellar results.

This time, we have

- PBT up 75% (after an incrase of 86% last year)
- EPS up 78%
- revenue up 42% (all organic)

See for yourself below.


CPL RESOURCES PLC

Interim Statement for the Six Month Period to 31 December 2006


CPL resources plc today (Thursday 25 January December 2007) released its interim
statement for the six month period to 31 December 2006. Key highlights include:


Profitability and shareholder value

• Profit before tax of €8 million, up 75%
• Record earnings per share of 18.9 cent, an increase of 78%
• Interim dividend proposed of 1.75 cent


Operational performance

• Revenue of €94 million for the 6 months, representing growth of 42% year
on year
• Gross profit of €19.9 million, up 51% from €13 million in the period to
December 2005
• Cash balances of €26.2 million at 30 December 2006 (€21.3 million at 30
June 2006)
• Improved conversion ratio of 40.6%


It is a pleasure to report record interim results for Cpl Resources plc in the
period to 31 December 2006. CPL achieved another period of excellent growth
across all its businesses, increasing total revenues by 42% to €94 million. With
income outpacing costs, pre-tax profits rose by 75% to more than €8 million. Our
growth, which was entirely organic in the period, is particularly pleasing as it
follows a 86% increase in profit before tax in the previous year.

Our clients are operating in a vibrant economy where, in many sectors, demand
for skills continues to exceed supply. As the leading provider of employment
services to the Irish market we are confident that we can continue to grow our
business by anticipating and meeting the changing needs of employers and skilled
people across the spectrum of business areas in which we operate. We are also
alive to growth opportunities presented by potential acquisition targets in
Ireland and elsewhere.



Results Overview

Six months to Six months to % change
31 December 2006 31 December 2005
€000's €000's

Revenue 94,181 66,333 42%
Gross profit 19,859 13,127 51%
Profit before tax 8,059 4,605 75%
EPS 18.9 cent 10.6 cent 78%


Net fee income in our permanent placement business increased by 46% over the
prior year, with all divisions performing well. This performance has been
helped by increased demand for IT, telecoms and finance professionals. Our
contractor and temporary fees have increased by 57%, reflecting growth in the
demand for non-permanent staff in all areas, including office management and
administration, customer service, engineering, healthcare and manufacturing
operations, and for temporary staff in the pharmaceutical, biotechnology,
clinical research and medical device industries. Newer areas of our business
also performed well in the period. These included Cpl Managed Services, which
manages selected business processes (including call centres, administrative
services and recruitment solutions) on behalf of clients.

The Group continued to focus on cost control and efficiencies during the period.
A 51% increase in gross profit was translated to a 75% increase in profit before
tax demonstrating the Group's operating leverage. The conversion ratio of gross
profit to net profit before tax was 40.6% in the six months to December 2006
compared with 35% in the same period last year.

The Group had cash balances of €26.2 million at 31 December 2006.
Notwithstanding the working capital demands associated with strong growth in
business activity, this figure is €5 million higher than the corresponding
balance at 30 June 2006.

The Board is recommending an interim dividend of 1.75 cent per share. The
dividend will be payable on 2 March 2007 to shareholders on the company's
register at the close of business on the record date of 2 February 2007.



Group income statement
for the half year ended 31 December 2006 Half Year ended Half Year ended Year ended
31-Dec-2006 31-Dec-2005 30-Jun-2006
€'000 €'000 €'000
( Unaudited) ( Unaudited) ( Audited)


Revenue 94,181 66,333 148,065
Cost of sales (74,322) (53,206) (119,898)

Gross profit 19,859 13,127 28,167
Distribution expenses (1,174) (818) (1,725)
Administrative expenses (10,959) (7,774) (16,111)

Operating profit 7,726 4,535 10,331
Financial income 342 77 255
Financial expenses (9) (7) (20)

Profit before tax 8,059 4,605 10,566
Income tax expense (1,048) (691) (1,278)

Profit for the financial period 7,011 3,914 9,288

Basic earnings per share 18.9 cent 10.6 cent 25.1 cent

Fully diluted earnings per share 18.9 cent 10.4 cent 24.9 cent




Group Balance Sheet
At 31 December 2006

31-Dec-2006 31-Dec-2005 30-Jun-2006
€'000 €'000 €'000
(Unaudited) (Unaudited) (Audited)
Assets
Non-current assets
Property, plant and equipment 1,435 973 1,144
Goodwill 6,431 5,622 6,265
Intangible assets 228 189 253
Deferred tax asset 42 42
-
Total non-current assets 8,136 6,784 7,704

Current assets
Trade and other receivables 21,563 18,673 17,025
Cash and cash equivalents 26,247 11,185 21,292
Corporation tax refundable - - 81
Total current assets 47,810 29,858 38,398

Total assets 55,946 36,642 46,102

Equity
Issued capital 3,731 3,688 3,714
Share premium 1,686 1,671 1,686
Other reserves (3,300) (3,300) (3,300)
Retained earnings 32,976 21,597 26,522
Total equity 35,093 23,656 28,622

Liabilities
Non-current liabilities
Financial liabilities 317 367 317
Provisions 177 - 177
Total non-current liabilities 494 367 494

Current liabilities
Financial liabilities 35 16 79
Trade and other payables 19,085 11,863 16,688
Corporation tax payable 1,020 589 -
Provisions 219 151 219
Total current liabilities 20,359 12,619 16,986

Total liabilities 20,853 12,986 17,480

Total equity and liabilities 55,946 36,642 46,102




Group statement of cash flow Half Year ended Half Year ended Year ended
for the period ended 31 December 2006 31-Dec-2006 31-Dec-2005 30-Jun-2006
€'000 €'000 €'000
( Unaudited) ( Unaudited) ( Audited)
Cash flows from operating activities
Profit for the financial period 7,011 3,914 9,288
Adjustments for:
Depreciation on property, plant and equipment 135 140 223
Amortisation of intangible assets 25 20 54
Financial income (342) (77) (255)
Financial expense 9 7 20
Income tax expense 1,048 691 1,278
Operating profit before changes in working
capital and provisions 7,886 4,695 10,608

Movement in trade and other receivables (4,538) (5,301) (3,620)
Movement in trade and other payables and 2,397 971 5,715
provisions
Cash generated from operations 5,745 365 12,703
(9) (7) (20)

Interest paid
Income tax refund / ( paid) 53 (187) (1,493)
Interest received 342 77 255
Net cash from operating activities 6,131 248 11,445


Cash flows from investing activities
Acquisition of subsidiary, net of cash (166) (194)
acquired -
Deferred consideration paid (234)
- (79)

Purchase of property, plant and equipment (426) (322) (550)
Purchase of intangible assets (22) (140)
-

Net cash (outflow) from investing activities (592) (423) (1,118)


Cash flows from financing activities
Repayment of borrowings (27) (23) (30)
Proceeds from new loan - 90 93

Dividends paid (557) (368) (817)
Proceeds from issue of share capital 17 41
-
Net cash (outflow) from investing activities (567) (301) (713)

4,972 (476) 9,614

Change in cash and cash equivalents
Cash and cash equivalents at beginning of 21,275 11,661 11,661
period
Cash and cash equivalents at end of period 26,247 11,185 21,275

[l3gend] 22/1/2007 18:04

Probably not Primrose, probably just catch up.

[primrose 100] 18/1/2007 17:39

CPL communicated their H1 figures on the 24th last year.

Could today's rise be because somebody has managed to get a sneaky peak & has spotted that these are about to go up again.

[primrose 100] 04/1/2007 12:11

L3gend,

Have you not got anything better to do than comment on what you see as other people's misuse of these boards?

[l3gend] 22/12/2006 11:14

You're at it again Primrose - we can all see the price no need for reportage. this is meant to be a forum for analysis and detailed views - I can get the share price off the lse website thanks very much.....

[primrose 100] 21/12/2006 09:24

Up another 6p already today.

It's such a shame more people aren't jumping on this share.

[primrose 100] 20/12/2006 16:26

Up another 20p today.

I'm looking for another lurch forward when they are able to annouce the latest set of results.

[primrose 100] 20/12/2006 10:12

L3gend,

I'm just trying to make sure people spot the news.

Happy Christmas.

[l3gend] 18/12/2006 11:47

Primrose - why do you just copy and paste news - we can all read.

[primrose 100] 07/11/2006 10:27

CPL are doing it again!!!


The Chairman of CPL Resources plc, John Hennessy, made the following statement
at the Company's Annual General Meeting today.



'The CPL Group has continued to perform strongly since 30 June 2006 and results
for the six months to 31 December 2006 are likely to exceed current market
expectations.



Trading has been strong across most sectors of the group's business, reflecting
continued growth in the Irish economy and labour market. The Group's permanent
placement business has continued to perform well, and demand remains buoyant for
temporary and contract employees. Current trading conditions indicate that the
business will continue to perform well over the coming months.'

[dusty35] 07/9/2006 11:14

Thanks for the advice primrose. I think I will have to look at putting it into a tracker fund then. Why are you mental at work? That makes me a bit worried about your investments!!

[primrose 100] 07/9/2006 09:45

Dusty,

I'm mental busy at work - hence the silence.

If you rely on the opinions of others on here to make your investment dceisions, you are really going to come a cropper. In the end, you really have to feel confident in your own judgement - otherwise, you would be much safer putting your money inty funds that are managed by experts.

[dusty35] 07/9/2006 09:22

I nearly did as I took your silence as that you were unsure about this company. But luckily I held onto it. I'm worried that you sold given your silence....

[primrose 100] 07/9/2006 09:01

Dusty,

I really hope you haven't sold.

Another stonking set of results!!!

Organic turnover growth of over 40%.

Profitability up over 80%

We remain confident in our ability to
take advantage of favourable economic conditions and to identify and pursue
opportunities for further growth, whether organically or by acquisition.'

There is no way I'm selling into these results.

This is a great company. Lots more growth to come IMHO.

[dusty35] 04/9/2006 10:20

But what do you think?

[primrose 100] 01/9/2006 16:37

It depends what they are like & how the market takes them.

[dusty35] 31/8/2006 08:07

Hi Primrose, do you think this share is a sell into the results then?