CPL Resources

Picking up pace

  • Sectors : Recruitment
  • Companies : CPL Resources

Ratings and price correct at time of issue.

  • CPL Resources

    Closing Price: 594c

  • RATING 30/06/09

  • PREVIOUS RATING N/A

DAVY VIEW

Cpl’s operational execution (cost management and business generation) is complementing its strategic positioning (moving into higher value-added services) and producing impressive results. Net fees and underlying operating profits were up 15% and 24% in H1 respectively despite double-digit growth in the prior year. This momentum is incongruent with its valuation levels (forward P/E of 8.3x), and we reiterate our ‘Outperform’ rating.

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Jan 24 2019, 07:05 GMT

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