CPS.L Regulatory News (CPS)

12 Jun 2007 09:15

CPL Resources PLC12 June 2007 CPL RESOURCES PLC Cpl Resources plc, Ireland's leading employment services group today 12 June2007, announced two acquisitions. The first, Northside Recruitment Services ("NRS") Ltd. NRS Ltd. specialises intemporary recruitment in the light industrial and commercial sectors. NRS'sexisting management will continue to oversee the further growth and developmentof the business. Commenting on the announcement, the Managing Director of NRS,Fraser Graham, said, 'NRS has grown its business with a simple philosophy, "Local office, Local Staff, Local Knowledge and Local Clients". Cpl and NRS sharea similar ethos and approach to business and we are delighted to be joining theleading recruitment company in Ireland'. This acquisition forms part of the ongoing development of Cpl. Commenting on thepurchase, Anne Heraty, Chief Executive of Cpl Resources plc said: "Cpl has seenthe value of having a number of regional offices. We believe that adding anoffice in Finglas will have a strategic benefit for the Group. This acquisitionis an ideal fit with our overall strategy for growth and diversification. Itdovetails with our existing business in Multiflex. Cpl has also entered into an agreement to acquire Allied Nurses Agency Ltd on 1July 2007. Allied Nurses Agency is located in Dublin, providing locum nurses andhealth care assistants to clients throughout Ireland. Commenting on the purchase Anne Heraty said, 'With its extensive operations inthe nursing sector Allied Nurses Agency is an excellent fit with Cpl's existinghealthcare businesses, Medical Recruitment Specialists, Kate Cowhig andNursefinders UK. Together these businesses will firmly establish Cpl'shealthcare division as a major national player in the healthcare sector and willoffer opportunities for operational synergies and an enlarged source ofcandidates for clients. Trading Update Cpl Resources plc will announce its results for the fiscal year ending 30 June2007 on the 10 September 2007. Ahead of these results the board is presentingthe following pre-close update: During the second half of its fiscal year to date the Cpl group has continued toexperience strong demand for its services. As a result, the Board anticipatesthat the Group's trading performance for the current fiscal year to June 2007will be somewhat ahead of current market forecasts. John Hennessy, Chairman of Cpl, commented 'Although the outlook for the Irisheconomy is less certain in the medium term, forecast employment growth of 3.2%in the Irish market for the year 2007 suggests that the operating environmentwill remain positive for Cpl over the coming months.' Contact details: Anne Heraty, Chief Executive or Josephine Tierney, Finance Director CPL Resources plc Tel: +353 1 6146000 12 June 2007 This information is provided by RNS The company news service from the London Stock Exchange