| Type | Public (LSE: CPL) (ISEQ: DQ5.IR) |
|---|---|
| Industry | human resources for IT, administration, healthcare, engineering, construction and financial world |
| Founded | 1992 |
| Headquarters | Dublin, Ireland |
| Area served | Europe |
| Key people | Anne Heraty (CEO) Paul Carrol (business development) Josephine Tierney (CFO) |
| Revenue | € 212,4 million (2009) € 257,6 million (2008) |
| Net income | € 43.000 (2009) € 17,6 million (2008) |
| Website | CPL.IE |
CPL Resources Plc. is a resourcing/placement company based in Dublin, Ireland and active on several markets in Europe but still mainly focussed on the home-market Ireland. The shares of CPL are traded on the Irish and UK stockmarkets (see below). CPLfounded by current CEO Anne Heraty and Keith O'Mally as Computer Placement Ltd back in 1989. Currently the group has 12 companies spread over 21 offices: 12 in Republic of Ireland, 2 in Northern Ireland and 7 in the rest of Europe. Based on the success of the company and the fact that it was (co)founded and being led by a woman Anne Heraty became a well known person and quite influential in the Irish economy.[1]
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The CPL Group consists of several companies each targeting different markets and they offer several kinds of services, all related to work and human resources.There are companies that are just Resources: finding and selecting candidates for specific roles or job-vacancies for their customer and then the customer can hire (or not) the proposed candidate. This resourcing work is done for external customers as well as for finding people for their own activities where they need many candidates, such as for CPL Solutions Ltd. Other companies, such as CPL Solutions, take over complete departments of their customers and run it more or less independent: based on the agreed activities CPL hires the people and are fully responsible for running that specific department for their customer. The CPL employees work at the offices of CPL's customers. (And some of the departments run in 'mixed' mode where part of the lower management is from the customer and part of them are CPL employees.
Currently (2010) CPL consists of 12 companies with 21 offices (excluding the place of work at the premises of CPL's customers:[2]
In 1989 Anne Heraty and Keith O'Melly found Computer Placement Ltd. offering staff for the IT industry. In 1992 Heraty buys out the other shareholders, including O'Melly and becomes 100% owner of CPL. In 1996 Heraty's husband Paul Carrol joins the company. Currently he is director of 'Business Development'. In 1994 a restructuring of Computer Placement Ltd. starts en from then on they mainly use CPL as tradename. The restructuring continues in the next years and in 1996 the companies CPL Engineering (construction) and CPL Solutions (IT/callcentres) are founded. In 1997 the first new office is opened in Limerick In 1998 some new divisions are set up within 'Computer Placement Ltd': CPL Telecoms, CPL Sales en CPL Financial.
In 1999 the Plc CPL Resource Plc is founded and the shares are floated on the DCM marker of the Irish Stock Exchange and the AIM market at the London Stock Exchange. In the same year the company goes international by opening an office in Northern-Ireland
At the start of the 21st century CPL acquires quite some companies such as Careers Register, Tech Skills, Multiflex. CPL grows fast on her home-market Ireland: many multinational open their European headquarters in Ireland and/or open their European customer support centres. Ireland is a nice and interesting country to place your offices: foreign investments are highly promoted and many regulations and laws are intended to attract international companies with tax-breaks and alike. Also the Irish laws around employment are interesting: compared to many other European (EU member states that is) the salaries in the private sector are relative low and the costs of employment are low. It is also relative easy to end employees contracts etc. This fast grow of the Irish economy is also known as the Celtic Tiger.
After a short dip in 2001-2002, due to the collapse of the internet bubble the Irish economy recovers quickly and CPL continues her fast grow until 2008 when the worldwide economy collapses after the initial credit crunch. Many large companies down-size or even leave Ireland and the profit of CPL over fiscal year 1999 falls by 99% (see below)
Ever since the founding but foremost after the flotation of CPL on the stock-exchange CPL took over several companies[4]
| Company | Year | Marktet | Country of origin |
|---|---|---|---|
| Careers Register | 2000 | Financial | Ireland |
| Multiflex Human Resources | 2002 | Administration & Financial |
Ireland |
| Tech Skills Resources | 2002 | construction / production | Ireland |
| Ann O'Brien | 2002 | Secretarial | Ireland |
| Marlborough Group Ltd temp contracts department |
2002 | divers | Ireland |
| Thomshaw Recruitment | 2004 | Healthcare | Ireland |
| Nurse Finder | 2006 | Healthcare | United Kingdom |
| Eastlink Recruitment | 2006 | Production, IT, construction, Financial | Ireland international active |
| Key6 Business Solutions | 2007 | IT/Consultancy/management | Czech Republic and Slovakia |
| Northside Recruitment Service Kate Cowhig International Recruitment Richmond Recruitment Group |
2007 | (general) | Ireland |
| Techstaff International | 2009 | Technique | United Kingdom |
| Nifast | 2009 | Healthcare | Ireland |
| Ecom Intercations | 2009 | Financial customer care |
Ireland |
| Kenny Whelan & Associates | 2009 | Bouw/constructie consultants | Ireland |
| ServiSource | 2010 | Gezondheidszorg | Ireland |
CPL has many customers based in Ireland: both 'real' Irish companies but especially multinationals having their HQ or Customer Support centres and Production facilities based in Ireland, the United Kingdom (including Northern Ireland) and the Czech Republic. One of the larger customers for CPL Solutions Ltd. in Ireland is Hewlett-Packard with main offices in Leixlip and Clonskeagh in Dublin. In these two locations some 700 CPL employees work for HP.[5]
As the shares of CPL Resources are traded on the stock-exchange in Dublin and London CPL publishes her figures. The financial year is from 1 July to 30 June of the next year. In the table below (and other text) the years mentioned are Fiscal Years: 2010 means the Fiscal year from July 1, 2009 up to and including June 30, 2010.
In the table below figures are published over the period FY 2006 - FY 2009 and also the figures over the 1st year that CPL was trading on the LSE and ISE (2000). Each figure is followed by its delta comparing it to the previous year with these exceptions:
| Item | FY 2009[6] | Delta 2008 | FY 2008[6] | Delta 2007 |
FY 2007[7] |
Delta 2006 | FY 2006[7] | Comared to 2000 avg.per year |
FY 2000[8] | Delta in % from 1999 |
|---|---|---|---|---|---|---|---|---|---|---|
| Turnover in € mln | 212,4 | -45,2 | 257,6 | 62,1 | 195,5 | 47,4 | 148,1 | 20,4 | 26,0 | 25% |
| Free income € mln | 35,0 | -17,5 | 52,5 | 9,5 | 43,0 | 14,8 | 28,2 | 2,7 | 11,9 | 58% |
| Operatial profit in € mln | 0,143 | -19,6 | 19,8 | 1,3 | 18,5 | 8,2 | 10,3 | 0,97 | 4,5 | 45% |
| Net profit € mln | 0,681 | -17,3 | 18,0 | 1,2 | 16,8 | 7,5 | 9,3 | 1,05 | 3,0 | 48% |
| Profit per share in €cent | 1,7 | -46,5 | 48,3 | 3,3 | 45,0 | 20,1 | 24,9 | 2,6 | 9,3 | 29% |
The board of CPL Resources Plc. is per 30-06-2009 as follows:[9]
| Name | function/role | with CPL since | # shares holding as per 30-06-2009[10] |
=% of issued shares[11] |
|---|---|---|---|---|
| Anne Heraty | CEO | 1989 | 12.907.764 | 34,7 |
| John Hennesy | non-executive chairman |
1989 | 125.000 | 0,33 |
| Paul Caroll | Business-Development | 1996 | 2.234.061 | 6,01 % |
| Brefni Byrne | non-exec mbr enumerations grp |
1999 | 10.000 | 0,03 % |
| Garnet Roche | CEO Multiflex | 1995 | 63.192 | 0,17 % |
| Josephine Tienny | CFO | 2001 | 40.000 | 0,12% |
| Oliver Tatton | non-executive | 2007 | 0 | 0% |
The percentages give in the last row of above table are based on the number of issued shares as per June 2010. The number of issues shares is 37,199,825[11].
Another fact you can take from this data is that Heraty and her husband Carrol own over 40% of all issued shares in CPL Resources Plc. This stake in the company represents a value of € 36 million based on the average price in May 2010 of € 2,40. When you use the year-low prices of aprox € 1,45 as it was in June/July 2009 this still represents a value of some € 22 million.[12]
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