CPL announce massive profits boost

Recruitment group CPL has reported pre-tax profits of €4.6m for the six months to the end of December, up 79% on the same period a year earlier.

Revenue grew by 34% to €66.3m, while earnings per share were up from six cent to 10.6 cent. Gross profit - the company's net income from fees - rose by 41% o €13.1m.

CPL said all of its divisions were strong, helped by increased demand for IT, telecoms and finance professionals. It said its newer business also performed well, including its executive search business BroadReach International and Cpl Managed Services, which manages call centres and administrative services on behalf of companies.

CPL said 2006 had begun well and it continued to operate in a favourable economic environment. An interim dividend of 1.4 cent will be paid.