Cpl Resources proposes extra cash return

Irish employment services group Cpl Resources announced annual results that displayed moderate growth in revenue and profit before tax but decided to return a large proportion of surplus capital to investors on top of its final dividend.

Revenue for the Dublin-based company reached €455.2m in the year to 30 June, up 5% on the previous year, while profit before tax inched up 3% to €15.8m.

The group also proposed to return €25m in capital to all shareholders by way of a tender offer for the best interest of shareholders, following careful consideration and having taken appropriate advice.

This came on top of a final dividend of 5.75p per share that brought the total dividend for the year to 11.5p, which is up 5% on the previous year.

For her part, Anne Heraty, the chief executive of the company, commented on the continued expansion of the company with the opening of offices in Munich and Boston during the year.

"We continued to grow our international footprint opening offices in Munich and Boston during the year. We now have over 40 offices in 10 countries."

"These offices provide Cpl clients with the international reach they need especially in resourcing local talent. We also made further strategic progress with the acquisition of RIG Healthcare Group."

"This is Cpl's first entry into the locum doctor market and enhances the Company's operating presence in the UK, following the acquisition of Clinical Professionals in September 2015."