CPL has announced that its revenues climbed 10% in the year to June 2016, coming in at a record €433 million.

Strong employment growth in Ireland and the UK and continued expansion of its operations across Europe helped drive the publicly-quoted recruitment firm's strong performance.

Pre-tax profits were 22% higher at €17.4m.

While more than 80% of CPL’s revenues are generated in Ireland, it now operates from 10 countries. It opened its fifth office in Poland in Gdansk during the spring and is about to open a base in Munich. 

Close to 60% of the group’s net fees derive from placing people on temporary contracts.

Speaking to Breakfast Business' Vincent Wall this morning, CPL's Chief Financial Officer, Mark Buckley explained:

"A lot of the multinationals after the crash wanted to have a flexible workforce. But a lot of the IT sector are happy to work on projects because technology is changing so quickly that they have to adapt...

"So it's a model that works for both employers and employees."