Irish-listed recruitment firm CPL Resources has said it sees both opportunities and challenges from Brexit as it reported strong trading in the year-to-date.

In a trading update issued on Monday, the company, which is due to announce full-year results in September, said revenues, gross profit and operating profit have all grown this year.

The group said pre-tax profits for the year to the end of June to be in line with market expectations.

“Our balance sheet and cash flow remain strong,” the company said.

CPL, which derives over a quarter of its net fees from outside of Ireland, said it was monitoring the effects of the recent Brexit vote and assessing its possible implications for the group’s business.

In a note to investors, Davy said the trading update “provided reassurance” around CPL’s full-year results.

Davy is forecasting the recruitment firm will record a pre-tax profit of €15.1 million, up 7 per cent on the €14.1 million recorded a year earlier.

In January, CPL said half-year revenues were up 12 per cent to €216.4 million versus the same six-month period in the preceding year.