Member Article

‘Challenging trading’ sees York’s CPP Group report losses

York-based CPP Group plc has reported losses as “challenging trading conditions” continue.

The firm reported group revenue from continuing operations of £178.0 million (2012: £269.9 million)

They also reported underlying operating loss from continuing operations of £1.8 million (2012 (restated): £26.7 million profit) despite disposing of their North American business.

CPPGroup Plc is an assistance business operating in the UK and overseas within the financial services, telecommunications and travel sectors, providing protection against insurance and credit card fraud.

Brent Escott, CEO, commented: “Much work took place during 2013 and we have made considerable progress in a short time.

“Since my appointment in September, there has been a clear focus on the actions required to strengthen the Group and move forward with a stable foundation.

“CPP is on a journey to rebuild, improve, modernise, and evolve. As we move forward in 2014, we are focused on concluding the Scheme and continuing to make the improvements and changes required to rebuild CPP as a trusted, customer-focused business.”

This was posted in Bdaily's Members' News section by Clare Burnett .