CPL Resources upbeat despite warning over skills shortages

CPL Resources has warned skills shortages in certain sectors continue to cause challenges for recruiters.

While not seeing a huge problem in finding talent, CPL said finding highly skilled candidates for positions in sectors such as healthcare and pharmaceuticals has become a bigger challenge than finding vacant positions.

However, the Dublin-based recruitment group maintained, yesterday, that it remains on course for a year of annual profit growth following a strong showing in its first half.

Newly published interim figures show the group’s revenue grew by 12%, year-on-year, in the six months to the end of December to €216.4m.

Adjusted pre-tax profits — which excludes non-cash charges relating to the group’s long-term incentive plan — rose by 25% to €7.57m, while earnings per share were up by 23% on the same period last year at 21.2c.

The acquisition of UK-based life sciences and pharmaceutical-focused recruiter Clinical Professionals last September also contributed to the strong first half performance.

CPL also announced an 11% increase in its interim dividend, to 5.25c per share.

The company said its first half growth was broad-based and while the pace of progress is “uncertain” in some markets, management remains upbeat.

“We remain confident in the outlook for the business and expect to deliver continued profitable growth for the remainder of the financial year,” said chairman John Hennessy.