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CPPGroup Plc issued a trading update on 15 July 2022 for the six months ended 30 June 2022, stating it expects to report financial results in line with the Board's expectations. The Group is undertaking a multi-year change management programme, which includes exiting certain legacy businesses and delivering a new IT platform, not expected to conclude until early 2025. CPPGroup Plc's Interim Results are scheduled for release on 26 September 2022.
| Date | 15 Jul 2022 |
| Time | 07:00:04 |
| Category | Trading updates |
| ID | 5603S |
15 July 2022
CPPGroup Plc
("CPP Group", the "Group" or the "Company")
Trading Update for the six months ended 30 June 2022
Ahead of the Interim Results, CPP Group (AIM: CPP), a provider of assistance and insurance products, which reduce disruptions to everyday life for millions of customers across the world, confirms that it expects to report financial results for the six months to 30 June 2022 in line with the Board's expectations.
The Group, despite global economic headwinds, continues to record good growth in its key Indian and Turkish markets. Blink, the Group's InsurTech platform servicing the global travel sector, is starting to build a credible proposition around its travel disruption services.
Operationally, the Group is focused on a change management programme, which is a substantial undertaking and includes the exit from or closure of certain legacy businesses; management of the legacy renewal books; the delivery of a new IT platform for our Indian business; and platform capacity for Blink. It is a complex, multi-year programme that is not expected to conclude until early 2025. The Group will provide a more detailed update on the programme alongside the publication of its Interim Results, which are due to be released on the 26 September 2022.
Simon Pyper, CEO of CPP Group, commented:
"We are at the start of a journey, which once completed will see us transform from a complex to a simplified business focused on providing innovative, embedded and tech-based products and solutions to our growing partner base.
Whilst there is much to be done, I am confident that we are travelling in the right direction and at an appropriate speed".
Enquiries:
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CPPGroup plc |
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Simon Pyper, Chief Executive Officer |
via Alma PR |
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David Bowling, Chief Financial Officer
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Liberum Capital Limited |
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(Nominated Adviser and Sole Broker) |
Tel: +44 (0)20 3100 2000 |
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Richard Lindley |
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Lauren Kettle |
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Alma PR |
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(Financial PR Adviser) |
Tel: +44 (0)20 3405 0205 |
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Josh Royston |
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David Ison |
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Kieran Breheny |
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About CPP Group:
CPP Group is a technology-driven assistance company that creates embedded and ancillary real-time assistance products and resolution services that reduce disruption to everyday life for millions of people across the world, at the time and place they are needed, CPP Group is listed on AIM, operated by the London Stock Exchange.
For more information on CPP visit https://international.cppgroup.com/