CPL Resources favours organic growth strategy

Publicly-quoted recruitment group CPL Resources has said it is favouring an organic - rather than acquisition-led - growth strategy despite seeing a near 66% increase in its net cash balance in its latest financial year.

CPL closed the year to the end of June in a net cash position of €40.1m, up from €24.2m 12 months previously. The company said yearly revenues grew by 8% to just under €565m and pre-tax profit jumped 33% to €24.6m.