- Advertisement -

CPP Group shares surge on strong trading

CPP Group shares have surged almost 54% on Monday after the group shared a trading for the year ended 31 December 2020.

The group said that trading in India had recovered well, which was “supported by the steady performance of our renewal portfolios in the UK and EU and a resilient performance in our Turkish operation.”

CPP Group expects full-year revenue to come in at around £140m – this is higher than previous forecasts of £133m. Underlying earnings (EBITDA)  are also expected to come in higher than previous forecasts of £6.4m and are expected to be in the range of £7.1m to £7.3m.

The company’s financial cash position remains strong at £21.9m thanks to “a notably conservative plan for managing its cash resources.”

The group will publish full-year results on 24 March 2021.

Jason Walsh, Chief Executive, said: “Despite the ongoing disruption and uncertainty caused by the pandemic in the second half, we continued to deliver consistently high levels of service and grow our business. Our ability to respond quickly and effectively to the evolving needs of our customers and partners meant we were able to strengthen existing relationships and forge new ones, which will further benefit the Group in 2021 and beyond.”

CPP shares are trading 53.96% at 505,00 (1215GMT).

Register for our free newsletter

Related Articles