Trading Statement

RNS Number : 5168P

CPPGroup Plc

18 November 2016

 

18 November 2016

CPPGroup Plc

TRADING UPDATE

CPPGroup Plc ("CPP" or "the Group"), the international assistance business, today provides an update on trading in the period since the Group's interim results announcement published on 18 August 2016 (the "Interim Results").

A combination of continued focus on cost control across the Group, increased sales volumes in our Indian business, and the impact of a weaker sterling on the results of our European operations, has resulted in the Board now anticipating underlying operating profit¹ for the full year ended 31 December 2016 to be materially ahead of the expectations detailed in the Interim Results.

Additionally, further to the Group's announcement on 14 September 2016, regarding the decision to develop an IT platform on its existing systems, CPP continues to negotiate an agreement with SSP Limited and will provide an update on the final outcome in due course.

1.   Underlying operating profit represents performance from continuing operations excluding exceptional items.

For further information please contact:

CPPGroup Plc

Jason Walsh, Chief Executive Officer

Mike Corcoran, Chief Financial Officer

Tel: [phone]

Investec Bank plc

Nominated Adviser and Corporate Broker

Sara Hale; James Rudd; Carlton Nelson

Tel: [phone]

Maitland

Neil Bennett; Daniel Yea

Tel: [phone]

Notes to Editors

CPP provides a range of assistance based services to customers in the UK & Ireland and in a number of international markets across Asia, Europe and Latin America. The Company's core propositions provide peace of mind for customers covering a range of areas including lost and stolen credit cards, identity theft, insurance of mobile devices, and passport assistance.

For more information on CPP visit www.cppgroupplc.com

REGISTERED OFFICE

CPPGroup Plc

Holgate Park

York

YO26 4GA

Registered number: 07151159

 

END

 

 

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