CPP TO CEASE PROVISION OF AIRPORT LOUNGE ACCESS

RNS Number : 2895O

CPPGroup Plc

27 May 2015

 



CPPGROUP PLC

27 May 2015                

CPP TO CEASE THE PROVISION OF AIRPORT LOUNGE ACCESS SERVICES

CPPGroup Plc (CPP or the Group), the International Assistance business, announces that as part of its plans to increase the focus of the Group's operations it intends to cease providing airport lounge access services currently marketed under the Airport Angel brand. In the intervening period the Group will continue to ensure a high quality of service is provided to existing customers.

The closure of Airport Angel is not anticipated to have a material impact on the Group's expected profitability in 2015 or beyond.

Stephen Callaghan, interim Chief Executive Officer, commented: "The decision to cease providing airport lounge access services is a further step forward towards CPP becoming a more focused, sustainable and profitable business." 

[ENDS]

Enquiries

CPPGroup Plc  

Stephen Callaghan, interim Chief Executive Officer

Craig Parsons, Chief Financial Officer

Tel: [phone]

Media

Tulchan Communications LLP

Martin Robinson

Tel: [phone]

Nominated Adviser and Broker

Numis Securities Limited

Robert Bruce

Stuart Skinner

Charles Farquhar

Tel: [phone]

Notes to Editors

CPPGroup Plc (CPP or the Group) is an international assistance business operating in the UK and overseas. CPP primarily operates a business-to-business-to-consumer (B2B2C) business model providing products and services to customers through Business Partners and direct to consumer. The Group's core assistance products help to provide security and are designed to make everyday life easier to manage.

As announced on 15 April 2015, Stephen Callaghan's appointment as interim Chief Executive Officer is pending regulatory approval.

For more information on CPP visit www.cppgroupplc.com

REGISTERED OFFICE

CPPGroup Plc

Holgate Park

York

YO26 4GA

Registered number: 07151159

 

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