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Oct 22 2019, 07:10 IST/BST
Cpl has built on its strong performance in FY 2019 (total net fees +16%) with a positive start to FY 2020. The company continues to benefit from the increased demand for flexible workforce solutions and is in a strong financial position with net cash of over €40m. Cpl is trading at a significant discount to peers and, on a FY 2020 P/E of 8.2x, continues to screen attractively. We reiterate our ‘Outperform’ rating.