CPL Resources

Strongly outperforming against an uncertain backdrop

  • Sectors : Recruitment
  • Companies : CPL Resources

Ratings and price correct at time of issue.

  • CPL Resources

    Closing Price: 655c

  • RATING 30/06/09



Cpl Resources continues to buck the trend, delivering an extremely strong set of full-year results. This is supported by strong growth in its Flexible Talent segment and, despite the higher working capital requirements of this division, net cash rose to €40.1m in the period. On the back of these results, we expect to upgrade our FY 2020 adjusted PBT by c.14% to c.€25.8m. This implies that Cpl is trading on an FY 2020 P/E of 8.0x, a compelling valuation relative to the sector. We reiterate our ‘Outperform’ rating.

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Sep 10 2019, 07:30 IST/BST