Business
FULL YEAR RESULTS FOR YEAR ENDED 31 DECEMBER 2024
FULL YEAR RESULTS FOR YEAR ENDED 31 DECEMBER 2024.
About this update from Cpp Group Plc
[{"type":"text","content":"\n\nCPPGroup Plc\n(\"CPP Group\"; \"the Group\"; or \"the Company\")\n \nFULL YEAR RESULTS FOR THE YEAR ENDED 31 DECEMBER 2024\n \nCPP Group (AIM: CPP), provider of real-time, digitally delivered assistance products which reduce disruptions to everyday life for millions of people across the world is pleased to announce its full year results for the 12 months ended 31 December 2024.\n \nFinancial Highlights:\n· Group revenue from continuing operations of £156.4 million (2023 restated: £173.4 million).\n· EBITDA from continuing operations at £1.4 million (2023 restated: £1.3 million).\n· Core business revenues4 of £155.1 million (2023 restated: £166.5 million).\n· EBITDA from Core business4 at £1.8 million (2023 restated: £0.5 million).\n· Loss before tax from continuing operations of £2.7 million (2023 restated: £5.7 million loss).\n· Cash balance of £9.7 million at 31 December 2024 (31 December 2023: £19.0 million).\n \nOperational Highlights:\n· Group focused on three Core businesses (Blink Parametric (\"Blink\"); CPP India, and CPP Turkey).\n· Core business performing well.\no Blink added 11 new clients and increased Annualised Recurring Revenues (\"ARR\") by +62%.\no CPP India and CPP Turkey, despite currency headwinds, performed well.\no Central costs, before recharges to business units, decreased to £6.9 million (2023: £10.1 million).\n· Change Management Programme (\"CMP\") completed.\n· Exit from legacy businesses complete, with UK back book in active run-off.\n· Divestment of Globiva Services Private Ltd (\"Globiva\") for £3.8 million completed in September 2024.\n· Disposal of minority interest in KYND Limited (\"KYND\") for £2.6 million completed in February 2024.\n \n \nSimon Pyper, CEO of CPP Group, commented:\n\"The past year has been pivotal for the Group, as we completed our Change Management Programme, exited from non-core businesses, and continued our investment in and development of Blink. We ended the year as ...