CPS.L Regulatory News (CPS)

21 Oct 2008 16:30



CPL RESOURCES PLC

AGM Statement

The Chairman of CPL Resources plc, John Hennessy, made the following statement at the Company's Annual General Meeting today.

Trading update

"Since  30th June 2008 the global economic downturn and its effects on the labour market have continued to have a marked effect on the trading and financial performance of the CPL Group. However, we are continuing to respond appropriately to these challenges by managing our cost base while maintaining our position as a leader in the provision of employment solutions to clients and candidates. As a result, we do not expect our financial performance to fall below current market expectations in the 6 months to 31 December 2008.

Given the very significant economic uncertainties that currently prevail in Ireland and in the other locations in which we operate, it is not possible at this time to predict with any accuracy how markets will develop, and how our business will perform, for the balance of our financial year to 30 June 2009. We will continue to manage our business carefully through the challenging times that lie ahead and use our resources to take advantage of opportunities that may arise to enhance the Group's activities."

21 October 2008