Brokers lower forecast for CPL

Analysts have rowed back on full-year forecasts for CPL Resources, despite the recruitment firm issuing a relatively strong set of first-half figures yesterday.

CPL’s results — for the six months to the end of December — showed a 5% year-on-year jump in group revenues, to €193.2m and a 5% increase in gross profit to €28.3m. However, operating profit for the period was down by 13% at €5.97m, as were pre-tax profits at just over €6m; on account of the amount the group invested in its facilities and operations during the period.

The group’s interim dividend — at 4.75c per share — remained unchanged from last year.