The results, released this morning, reveal the Irish employment and talent advisory services group saw revenues increase to €278.6m (£242.5m), with a 15% increase in gross profit on the previous year to €46.4m. The group also revealed it has €30.2m in net cash, up from €12.4m in 2017.

Elaborating on the group’s performance, Cpl chairman John Hennessy said the group had delivered continued growth in revenues, net fee income and profits, underpinned by strong growth in its finance and technology divisions: “Permanent recruitment performed well in the period, driven by significant increases in our finance and technology divisions.

“The group delivered strong growth in our flexible talent division during the period, with this business segment now equating to 70% of total NFI (2017: 68%). The group increased its gross margin to 16.7% (2017: 15.8%) and its adjusted operating margin to 4.16% (2017: 3.64%), demonstrating management’s focus on controlling our cost base, improving margins and increasing recruiter productivity.

“We continue to grow and develop our people within the group and on behalf of the Board I wish to express my gratitude for the continuing hard work and dedication of all of our people and for their commitment to the group.” 

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