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CPP Group, a 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.

Financial Highlights:

  • Group revenue from continuing operations of £156.4 million (2023 restated: £173.4 million).
  • EBITDA from continuing operations at £1.4 million (2023 restated: £1.3 million).
  • Core business revenues4 of £155.1 million (2023 restated: £166.5 million).
  • EBITDA from Core business4 at £1.8 million (2023 restated: £0.5 million).
  • Loss before tax from continuing operations of £2.7 million (2023 restated: £5.7 million loss).
  • Cash balance of £9.7 million at 31 December 2024 (31 December 2023: £19.0 million).

Operational Highlights:

  • Group focused on three Core businesses (Blink Parametric (“Blink”); CPP India, and CPP Turkey).
  • Core business performing well.
    • Blink added 11 new clients and increased Annualised Recurring Revenues (“ARR”) by +62%.
    • CPP India and CPP Turkey, despite currency headwinds, performed well.
    • Central costs, before recharges to business units, decreased to £6.9 million (2023: £10.1 million).
  • Change Management Programme (“CMP”) completed.
  • Exit from legacy businesses complete, with UK back book in active run-off.
  • Divestment of Globiva Services Private Ltd (“Globiva”) for £3.8 million completed in September 2024.
  • Disposal of minority interest in KYND Limited (“KYND”) for £2.6 million completed in February 2024.

Simon Pyper, CEO of CPP Group, commented:

“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 the business we set out to be in October 2022 – a digitally focused business led by Blink and supported by CPP India and CPP Turkey.

We have also pursued initiatives to enhance our offering, strengthen our business partnerships and streamline our operations. While not all of our actions will deliver immediate results, all are designed to increase long-term shareholder value, be it growth in Blink, new products in CPP Turkey, or renewed contractual arrangements between CPP India and its largest business partner Bajaj Finance Limited.

With Blink having increased its ARR by 62% to £1.6 million and added 11 new clients in 2024, we remain confident, with some further investment, the business will continue to make strong progress. We remain focused on converting Blink’s exciting pipeline into commercial contracts, extending contracts with existing partners into additional geographies, and with our Insurance Partners, finding additional audiences, such as banks, airlines and credit card providers for our Travel Disruption and Cyber Solution services.”