CPL hit hard

Over the last few days there's been some interesting commentary in the national press about CPL's revenue performance. Check out the Indepants article, here today and yesterday's RTE update here. Shares in the company are down at 1.05 euros at the moment and the group expects the outlook for 2009 to be "very uncertain".

Permanent placements are suffering, we know this, it will be interesting to see how hard the contract side of the business become in 2009. However Anne Hegarty and co have a very strong balance sheet. I'd be expecting them to acquire a number of small operations across Europe in the year ahead allowing them expand more aggressively into the RPO market in Europe and play catch up on companies like Kenexa and Adecco to name but a few.