Re Contract

RNS Number : 5095O

CPPGroup Plc

11 October 2012

 



CPPGroup Plc

11 October 2012

CPPGroup Plc ("CPP" or the "Group") announces that, as outlined in its Half Year Report of 21 August, Everything Everywhere has now confirmed that it will not be renewing the Group's contract with T-Mobile for the provision of mobile phone insurance.  As previously announced, this will result in reduced revenue in 2012 and beyond but does not have an immediate material impact on the Group's operating profit and cash flows for 2012 and 2013.

Paul Stobart, Chief Executive Officer, commented:

"CPP has enjoyed a strong working relationship with T-Mobile and whilst it is disappointing that this relationship has come to a close the longer-term prospects for the Group in the mobile sector continue to be promising. "

For enquiries contact:

CPPGroup Plc

Helen Spivey, Head of Corporate & Investor Communications

Tel. [phone]

Tulchan Communications

David Allchurch

Martin Robinson

Tel. [phone]

 

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