Results for Half Year-Amendmt

CPL Resources PLC
28 January 2002



Issuers Amendment

Please note that in the announcement released on 28 January 2002 at 14.00, RNS
No. 5789Q, Under Ordinary Dividend it stated that the record date was 9 March 
2001. This should have Stated 8 March 2002. All other text remains unchanged.



                               CPL RESOURCES PLC

                   For the Half Year Ended 31 December, 2001



Chairman's Interim Statement


CPL's core business is the placement of permanent and contract staff in Ireland,
and the sector of greatest significance to our business is the information
technology industry. This sector has suffered a global downturn since early in
2001, and this trend worsened after the terrorist attacks in September last.
Growth in the Irish economy has also slowed significantly over the past year.

As indicated at our Annual General Meeting in October 2001, CPL's financial
performance in the six months to 31 December 2001 has mirrored these trends,
resulting in a significant reduction in our profits when compared with the same
period in 2000.

The short-term outlook for our principal markets remains unfavourable. However,
we have continued to focus on providing excellent service to our customers while
reducing costs, and these efforts, combined with the benefits of diversification
into other sectors, have enabled us to remain profitable in a very challenging
environment.

In the coming months we will continue to focus our efforts on maintaining
profitability and positioning ourselves to emerge from this difficult period
pre-eminent in our markets and stronger than our competitors.


Turnover

Turnover was €12.1 million in the six months to 31 December 2001 (2000: €17.2
million), 29% lower than the corresponding period last year.

Gross Profit

Net fee income, represented by Gross Profit, of €4.4 million was 47% lower than
the same period last year (2000: €8.2 million).


Expenses

Costs for the period of €3.7 million were 31% lower than last year. (2000:
€5.5m).


Profit before Tax

Pre-tax profits amounted to €673,000. This represents a decrease of 76% on the
€2.7 million recorded in the corresponding period last year.


Balance Sheet

Our balance sheet position remains strong. Net assets at 31 December 2001 were
€12.1 million (30 June 2001: €11.7 million) and our net cash balance at that
date was €4.9 million (30 June 2001: €4.3 million).


Earnings per Share

Earnings per share amounted to €1.5 cent for the six months to 31 December 2001
(2000: €5.7 cent).


Ordinary Dividend

The Directors have recommended an unchanged interim dividend of €0.6 cent per
ordinary share. The interim dividend is subject to Irish dividend withholding
tax. Dividends will be due and payable on 8th April 2002 to holders of ordinary
shares at close of business on the record date of 8th March 2002.





                                          CONSOLIDATED PROFIT AND LOSS ACCOUNT

                                        FOR THE HALF YEAR ENDED 31 DECEMBER 2001
                                                         Half year ended     Half year ended                  Year ended
                                                             31 December         31 December                     30 June
                                                 Notes              2001                2000                        2001
                                                                   €'000               €'000                       €'000
                                                             (Unaudited)         (Unaudited)                   (Audited)
Turnover                                                          12,147              17,248                      35,003
Cost of sales                                                     -7,745              -9,005                     -19,402
Gross Profit                                                       4,402               8,243                      15,601
Administrative expenses                                           -3,362              -4,650                      -9,097
Distribution expenses                                               -403                -800                      -1,243
Operating Profit                                                     637               2,793                       5,261
Interest, net and similar charges                                     36                 -44                        -113
Profit on Ordinary Activities before
Taxation                                                             673               2,749                       5,148
Taxation on profit on ordinary activities                           -124                -700                      -1,182
Profit on Ordinary Activities after
Taxation                                                             549               2,049                       3,966
Dividends paid and proposed                          2              -217                -217                        -452
Retained Profit for the Financial Period                             332               1,832                       3,514
Profit and Loss Account, start of
period                                                             9,755               6,241                       6,241
Profit and Loss Account, end of
period                                                            10,087               8,073                       9,755
Earnings per Ordinary Share                          3         1.5 cents           5.7 cents                  11.0 cents




                                 CONSOLIDATED BALANCE SHEET AS AT 31 DECEMBER 2001
                                                               Half year ended    Half year ended        Year ended
                                                                   31 December        31 December           30 June
                                                                          2001               2000              2001
                                                                         €'000              €'000             €'000
                                                   Notes           (Unaudited)        (Unaudited)         (Audited)
Fixed Assets
Tangible Assets                                                          1,230              1,390             1,347
Intangible Assets                                                        3,470              4,532             3,565
                                                                         4,700              5,922             4,912
Current Assets
Debtors                                                                  4,842              9,215             7,303
Cash at bank and in hand                                                 6,659              2,917             6,523
                                                                        11,501             12,132            13,826
Creditors:
amounts falling due within one year                                     -3,068             -5,945            -5,736
Net Current Assets                                                       8,433              6,187             8,090
Total Assets less Current
Liabilities                                                             13,133             12,109            13,002
Creditors: amounts falling due
after more than one year                                                -1,010             -2,000            -1,211
Provisions for Liabilities and
Charges                                                                    -60                -60               -60
Net Assets                                                              12,063             10,049            11,731
Capital and Reserves
Called up share capital                                                  3,620              3,620             3,620
Capital conversion reserve fund                                             57                 57                57
Share premium                                                            1,656              1,656             1,656
Merger reserve                                                          -3,357             -3,357            -3,357
Profit and loss account                                                 10,087              8,073             9,755
Shareholders' Funds - all Equity                       4                12,063             10,049            11,731




                                           CONSOLIDATED CASH FLOW STATEMENT

                                       FOR THE HALF YEAR ENDED 31 DECEMBER 2001
                                                                  Half year ended     Half year ended       Year ended
                                                                      31 December         31 December          30 June
                                                      Notes                  2001                2000             2001
                                                                            €'000               €'000            €'000
                                                                      (Unaudited)         (Unaudited)        (Audited)
Net Cash Inflows from
Operating Activities                                      5                 2,241               2,258            7,061
Returns on Investments and
Servicing of Finance                                                         -199                -226             -295
Taxation                                                                   -1,405              -1,171           -1,208
Capital Expenditure and Financial
Investment                                                                    -24                 -61             -160
Acquisitions, net of cash acquired                                            -35                   -           -1,249
Equity Dividends paid                                                           -                   -             -217
Cash Inflow before Financing                                                  578                 800            3,932
Financing                                                                    -442                -352                3
Increase in Cash                                                              136                 448            3,935
Reconciliation of Net Cash Flow to
Movement in Net Debt
Increase in cash in the year                                                  136                 448            3,935
Cash outflow/(inflow) from decrease in
debt and lease financing                                                      442                 246               -3
Movement in Net Funds in the Period                                           578                 694            3,932
Net Funds, beginning of period                                              4,305                 373              373
Net Funds, end of period                                  6                 4,883               1,067            4,305




1.     Basis of Preparation

This interim report has been prepared on the basis of the accounting policies
set out in the Annual Report for the year ended 30 June 2001.


The figures for the half year ended 31 December 2001 are unaudited. The
comparative figures for the half year ended 31 December 2000 are also unaudited.
The amounts for the year ended 30 June 2001 represent an abbreviated version of
the Group's full financial statements for the year on which the Auditors issued
an unqualified audit report and which have been filed with the Registrar of
Companies.

2.      Dividends Paid & Proposed
                                                                Half year ended     Half year ended       Year ended
                                                                    31 December         31 December          30 June
                                                                           2001                2000             2001
                                                                          €'000               €'000            €'000
                                                                    (Unaudited)         (Unaudited)        (Audited)
Ordinary Dividends:
Interim dividend proposed                                                   217                   -                -
Final dividend proposed and paid                                              -                   -              235
Interim dividend proposed and paid                                            -                 217              217
                                                                            217                 217              452

 3. Earnings Per Ordinary Share

The earnings per ordinary share is calculated on the basis that the weighted
average number of shares in issue for the period ended 31 December 2001 is
36,196,825 (period ended 31 December 2000 - 36,196,825; year ended 30 June 2001
- 36,196,825). It has been calculated based on the profit on ordinary activities
after taxation for the period ended 31 December 2001 of €549,000 (period ended
31 December 2000 - €2,049,000; year ended 30 June 2001 - €3,966,000).

4.      Reconciliation of Movement on Shareholders' Funds
                                                                Half year ended      Half year ended       Year ended
                                                                    31 December          31 December          30 June
                                                                           2001                 2000             2001
                                                                    (Unaudited)          (Unaudited)        (Audited)
Opening Shareholders' Funds                                              11,731                8,217            8,217
Profit for the Financial period                                             549                2,049            3,966
Dividends paid and proposed                                                -217                 -217             -452
Closing Shareholders' Funds                                              12,063               10,049           11,731

5.      Reconciliation of Operating Profit to Net Operating Cash Flows
                                                                Half year ended      Half year ended       Year ended
                                                                    31 December          31 December          30 June
                                                                           2001                 2000             2001
                                                                          €'000                €'000            €'000
                                                                    (Unaudited)          (Unaudited)        (Audited)
Operating profit                                                            637                2,793            5,261
Depreciation                                                                145                  131              231
(Profit) /Loss on disposal of fixed assets                                   -4                   10
Amortisation of Goodwill                                                     96                   86              233
Movement in debtors                                                       2,428                  -98            1,814
Movement in creditors                                                    -1,061                 -664             -478
Net Cash Inflows
from Operating Activities                                                 2,241                2,258            7,061

6.      Analysis of Net Funds
                                        Cash at bank           Bank             Bank       Finance            Net
                                         and in hand      overdraft            loans        leases          funds
                                               €'000          €'000            €'000         €'000          €'000
At 30 June, 2001                               6,523           -169           -1,951           -98          4,305
Cash flow                                        136            169              241            32            578
At 31 December, 2001                           6,659              -           -1,710           -66          4,883

For Further Information:

Anne Heraty, CPL Resources, 353 1 614 6000

Brian Whelan, Whelan Communications, 353 1 676 8877 / 353 (0) 86 817 7178

Kevin Fitzsimons, Whelan Communications, 353 1 676 8877 / 353 (0) 87 290 7337



28 January, 2002



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