Final Results

CPL Resources PLC
15 September 2005


                               CPL RESOURCES PLC

         Record Results for Cpl; Profit before Tax up 112%; EPS up 117%


CPL Resources plc, Ireland's leading employment services group, today announced
full year results for the year ended 30th June 2005.

In his report to shareholders John Hennessy, Chairman said:

'The year to 30 June 2005 has been the best in the history of CPL. It is a
privilege to be able to report to you on a year in which the business has
performed beyond expectations on all fronts and delivered an outstanding
Group-wide performance.'


Financial Highlights

• Sales €105 million                  up 42%          (2004 : €73.9million)
• Net Fee Income €20 million          up 51%          (2004 : €73.9million)
• Profit before tax €5.4m             up 112%         (2004 : €2.6 million)

• Earning per share 13 cent           up 117%         (2004 : 6 cent)
• Dividend 1.8 cent per share         up 80%          (2004 : 1 cent)
• Net Funds €11.3m                    up 113%         (2004 : €5.3 million)


Operational Highlights

• Growth in sales and net fees across all business sectors
• Launch of BroadReach International, Executive Search & Selection
• Strong performance from offices in Limerick, Cork and Galway
• Midlands office opened in Mullingar
• Investment in recruitment consultants - up 20% to 160
• Over 12,000 people worked through Cpl on client site in the year to June 05


Commenting on the group's performance and outlook, Cpl Chief Executive, Anne
Heraty, said:

'Demand for staff amongst our client companies is at record levels in all
sectors and all our specialist companies have delivered strong year on year
growth.

We have continued to invest in our infrastructure and business processes and
this has helped us to gain efficiencies in our business support functions and
enhance the service we give to our clients. As a result we have the capacity to
maintain strong growth.

Employment growth last year in Ireland was strong and this trend looks set to
continue. The current year has started well and our pipeline of new clients is
solid. Our cash reserves put us in a strong position to target both organic
growth in 2006 and explore potential acquisition opportunities in Ireland and
further a field.'

About Cpl Resources plc

Cpl is a specialist provider of recruitment and employment services, operating
through distinct specialist brands in a wide range of business sectors,
including technology, accounting and finance, healthcare, pharmaceutical, sales,
engineering, light industrial, and office administration.



Chairman's statement

The year to 30 June 2005 has been the best in the history of Cpl. It is a
privilege to be able to report to you on a year in which the business has
performed beyond expectation on all fronts and delivered an outstanding
group-wide performance.

Record profits of €5.4 million have resulted in earnings per share of 12.8 cent,
more than double the figure (5.9 cent) achieved in the previous year. This
strong profit performance was driven off a 43% increase in turnover which took
the group past the €100 million figure for the first time. Gross profit, which
is our net fee income, also surpassed a milestone, exceeding €20 million for the
first time.

Notwithstanding this very strong growth we have managed our balance sheet
tightly, resulting in net cash balances of €11.3 million at 30 June 2005.

Cpl is a more diverse and robust business than it was a few short years ago. We
now operate in a variety of sectors and deliver an increasing range of products
and services to the market. We have grown significantly the area of our business
that involves the provision of temporary and contract employees to customers. We
are delivering newly developed Managed Services to blue-chip clients. We have
also seen a substantial growth in demand for the placement of permanent
employees across a broad range of market segments.

The growth in our business has inevitably placed increasing demands on our back
office resources and controls and we continued to strengthen this area of our
business during the year. A particular focus on the management of working
capital has allowed us to increase volumes aggressively while protecting and
increasing our cash resources. This in turn will enable us to continue our
strategy of expansion through organic growth, and selective acquisitions if and
when appropriate opportunities are identified, whether in Ireland or elsewhere.

The group faces the new financial year in excellent financial and operational
shape. We have experienced good trading conditions during the year in all of our
business sectors and we are very well positioned to take advantage of continued
growth in the economy. The new financial year has started strongly and, although
new business challenges always present themselves as each year progresses, we
are optimistic that the foreseeable future will give us continued opportunities
for growth.

The group's ability to generate growth and profits is linked closely to the
performance of the Irish economy, and we have benefited from growth in most of
the sectors in which we operate. However, economic growth merely presents
opportunities - it takes skill, dedication and a lot of hard work to make the
most of those opportunities. Our success in doing so is a testament to the
excellent leadership skills of our management team and the tremendous commitment
of all of our people. Their continuing efforts to deliver top class service to
all our clients and customers have made us Ireland's leading provider of
employment services. I am very proud of their achievements and very grateful to
them for their outstanding contributions, individually and collectively, to the
success of our business. I would also like to extend my appreciation to our
customers for their continued loyalty and support.

The Board is recommending for approval by shareholders a final dividend of 1
cent per share, bringing the total dividend for the year to 1.8 cent per share.



                      Consolidated profit and loss account
                        for the year ended 30 June 2005


                                                 2005      2004

                                                €'000     €'000

Turnover
- Continuing operations                       105,265    70,748
- Acquisitions                                            3,111
                                              105,265    73,859

Cost of sales                                 (85,193)  (60,601)
Gross Profit                                   20,072    13,258
Administrative expenses                       (13,183)   (9,715)
Distribution expenses                          (1,528)   (1,050)

Operating Profit
- Continuing operations                         5,361     2,477
- Acquisitions                                      -        16
                                                5,361     2,493
Interest receivable and similar income            108        83
Interest payable and similar charges              (25)      (12)

Profit on ordinary activities before            5,444     2,564
taxation

Taxation on profit on ordinary activities        (666)     (384)

Profit on ordinary activities after             4,778     2,180
taxation
Dividends paid and proposed Note 1               (663)     (368)

Retained Profit for the Financial Period        4,115     1,812

Profit and loss account, start of year         13,230    11,418

Profit and loss account, end of year           17,345    13,230
Earnings per ordinary share                 13.0 cent    6 cent
Fully diluted earnings per ordinary share   12.8 cent  5.9 cent
                                                    



                           Consolidated balance sheet
                                at 30 June 2005

                                                    2005     2004
                                                   €'000    €'000

Fixed Assets
Tangible Assets                                      978      970
Goodwill                                           5,284    5,527

                                                   6,262    6,497
Current Assets
Debtors                                           13,372   11,789
Cash at bank and in hand                          11,661    6,689

                                                  25,033   18,478
Creditors: amounts falling due within one year   (11,480)  (9,153)
Net current assets                                13,553    9,325

Total assets less current liabilities             19,815   15,822

Creditors: amounts falling due after more than      (411)    (559)
one year
Net Assets                                        19,404   15,263

Capital and Reserves
Called up share capital                            3,688    3,677
Capital conversion reserve fund                       57       57
Share premium                                      1,671    1,656
Merger reserve                                    (3,357)  (3,357)
Profit and loss account                           17,345   13,230

Shareholders' Funds - all Equity                  19,404   15,263





                        Consolidated cash flow statement
                        for the year ended 30 June 2005

                                                       2005     2004
                                                      €'000    €'000

Net cash inflow from operating activities Note 2 (a)  7,671      183

Returns on investments and servicing of finance          83       71
Taxation                                               (736)    (396)
Capital expenditure and financial investment           (333)    (204)
Acquisitions                                           (179)    (433)
Equity Dividends paid                                  (516)    (293)

Net cash outflow/(outflow) before financing           5,990   (1,072)

Financing                                               (80)      14
Increase/ (decrease) in cash                          5,910   (1,058)





            Reconciliation of net cash flow to movement in net funds
                        for the year ended 30 June 2005


                                                       2005     2004
                                                      €'000    €'000

Increase/ (Decrease) in cash                          5,910   (1,058)
Cash outflow from decrease in debt and lease            106       14
financing

Movement in Net Funds in the Period                   6,016   (1,044)

Net Funds, beginning of year                          5,329    6,373

Net Funds, end of year Note 2 (b)                    11,345    5,329





                                     Notes


1. Dividends paid and proposed
                                                   2005     2004
                                                  €'000    €'000
Dividend paid of 0.8 cent (2004: 0.4 cent)
per ordinary share                                  295      147

Dividend proposed of 1 cent (2004: 0.6 cent)
per ordinary share                                  368      221
                                                    663      368


2 Notes to the consolidated cash flow statement

(a) Reconciliation of operating profit to net cash flows from operating
activities

                                               2005          2004
                                              €'000         €'000

Operating profit                              5,361         2,493
Depreciation                                    275           242
Amortisation of Goodwill                        338           325
Movement in debtors                          (1,583)       (3,442)
Movement in creditors                         3,280           565
Net Cash Inflows
from Operating Activities                     7,671           183


(b) Analysis of net funds

                           01-Jul-04      Cash flow      30-Jun-05
                               €'000          €'000          €'000

Cash at bank and in hand       6,689          4,972         11,661
Bank overdrafts                 (938)           938              -

                               5,751          5,910         11,661
Loans                           (422)           106           (316)

At 30 June 2005                5,329          6,016         11,345




For Further Information:

Anne Heraty, CPL Resources, 353 1 614 6000

Josephine Tierney, Finance Director, 353 1 6146000



Ends



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