Business
Final Results
Final Results.
About this update from Cpp Group Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 3066G\n CPPGroup Plc\n 29 March 2022\n \n \n \n \n 29 March 2022 \n \n \n \n \n \n CPPGroup Plc \n \n \n (\"CPP\", \"the Group\" or \"the Company\") \n \n \n \n \n \n FULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2021\n \n \n \n \n \n A year of financial and operational progress as we refocus the business\n \n \n \n \n \n CPP Group (AIM: CPP), a provider of assistance and insurance products which reduce disruptions to everyday life for millions of customers across the world, is pleased to announce its full year results for the 12 months ended 31 December 2021. \n \n \n \n \n \n Financial highlights\n \n \n \n \n \n ·\n Group revenue from continuing operations increased by 5% to £143.6 million (2020 restated: £136.5 million)\n \n \n ·\n EBITDA from continuing operations increased by 29% to £7.5 million (2020 restated: £5.8 million).\n \n \n ·\n Profit before tax increased to £4.2 million (2020 restated: £0.9 million).\n \n \n ·\n Cash balance of £22.3 million as at 31 December 2021 (2020: £21.9 million).\n \n \n ·\n Final dividend proposed of 7.5 pence per share which will represent a full year dividend of 12.5 pence per share (2020: 25.0 pence per share).\n \n \n \n \n \n Operational progress\n \n \n \n \n \n ·\n Strong recovery in our Indian market with CPP India growing revenue by 7% and Globiva widening its client base with revenue increasing by 51%.\n \n \n ·\n Expanded partner base and product innovation in Turkey with revenue growing 28% on a local currency basis.\n \n \n · \n Making progress in the integration of Blink to strengthen the Group's ability to deliver innovative parametric and digital solutions.\n \n \n ·\n Simplification of the Group to focus on key growth areas through:\n \n \n o \n disposal of German card protection legacy business for £2.4 million;\n \n \n o \n disposal of our historically loss-making China business in January 2022;\n \n \n o \n restructure of Mexico and closure of the legacy Malaysia business; and \n \n \n o \n post period, we have commenced the wind down of the UK MGA and Bangladesh.\n \n \n ·\n New Board and Executive team in place to provide strategic focus and drive the business forward sustainably.\n \n \n \n \n \n Financial and non-financial highlights - continuing ...