9 Jul 2010 07:00
CPL Resources plc
Trading update
The CPL Group has remained profitable throughout 2010 to date despite a difficult operational backdrop. We expect the profit for the year to 30 June 2010 to be broadly in line with market expectations. Our balance sheet remains very strong.
The economic environment in the markets in which we operate has been very challenging for the last two years. We are now beginning to see signs of some limited improvement in those markets. However, employment in the Irish economy is still declining and sequential employment growth is not expected to resume until the second quarter of 2011. The immediate future therefore remains uncertain, but we are cautiously optimistic that a slow recovery has begun in the markets relevant to our business. We intend to continue to manage our business prudently and to invest in our people and technology so that we will be well placed to benefit from any upturn in the economic cycle.
July 2010