Half-year report for the six months ended 30 June 2021 - CPP Group
CPP Group
  • 167.50
  • -5.00
  • As of 07 February 2023 21:30
  • About us
    About us
    • Who we are
    • What we do
    • Where we are
    • Who we work with
    Menu
    • Who we are
    • What we do
    • Where we are
    • Who we work with
    People
    • Values & Culture
    • Governance
    • Gender Pay
    Menu
    • Values & Culture
    • Governance
    • Gender Pay
    Leaders
    • Meet our leadership team
    Menu
    • Meet our leadership team
    About us

    We create assistance and insurance products that reduce disruptions to everyday life for millions of customers across the world

    MORE

  • Investors
    Investor
    • Overview
    • Strategy
    Menu
    • Overview
    • Strategy
    Shareholders
    • Results, reports and presentations
    • Shareholder information
    • Share price and regulatory news
    Menu
    • Results, reports and presentations
    • Shareholder information
    • Share price and regulatory news
    Governance
    • AIM rule 26
    • Corporate governance
    Menu
    • AIM rule 26
    • Corporate governance
    2021 Annual Report

    See the highlights from our 2021 annual report and download the full details

    DOWNLOAD

  • Media
    Newsroom
    • News
    • Blog
    Menu
    • News
    • Blog
    Resources
    • Downloads
    Menu
    • Downloads
    Newsroom

    Explore our latest news, our blog section and all the other insights

    MORE

  • Contact us

Half-year report for the six months ended 30 June 2021

  1. Home
  2. News
  3. Half-year report for the six months ended 30 June 2021

CPP Group (AIM: CPP), the multinational provider of personal protection and insurance products and services, is pleased to announce its half year results for the six months ended 30 June 2021.

The Group delivered another half of robust financial and operational progress amid continuing challenges related to the pandemic. Revenues, profits and customer numbers all increased at the same time as making progress on strategic initiatives that put it in a strong position to support partners, deliver value for customers and maintain a robust financial position.

Key financial indicators:
  • Group revenue from continuing operations increased by 10% to £66.4 million (H1 2020 restated: £60.3 million)
  • EBITDA from continuing operations increased by 37% to £2.6 million (H1 2020 restated: £1.9 million)
  • Reported loss before tax from continuing operations of £0.7 million (H1 2020 restated: £0.5 million profit)
  • Underlying profit before tax from continuing operations of £0.8 million (H1 2020 restated: £0.6 million)
  • Loss after tax from continuing operations of £1.8 million (H1 2020 restated: £1.2 million) which improves to an overall profit for the period of £1.3 million (H1 2020: £0.7 million loss) when including discontinued operations
  • Cash balance of £19.6 million as at 30 June 2021 (H1 2020: £18.2 million)
  • 5 pence per share interim dividend declared following recommencement of full year dividend announced in FY 2020 results
CPP Group donuts 6 vertical pyramid
Operational highlights:
  • Customer numbers increased to 12.3 million (H1 2020 restated: 10.8 million, FY 2020 restated: 11.6 million) with growth in India being well supplemented by customer acquisitions from new partners in Turkey and the UK
  • The partner base continues to grow, including the addition of financial wellbeing company ClearScore in the UK. The partnership demonstrates our growing capability in embedded insurance
  • Further product innovation to meet the changing needs of consumers with the release of a home emergency product range in the UK and EU, and plans to launch a similar line in Turkey
  • Integration of Blink into our platform to strengthen the Group’s ability to meet the growing demand for parametric insurance solutions
  • Established an IT team in our Indian business to build our new customer platform
  • Disposal of German card protection legacy business for £2.4 million, providing additional financial flexibility for the Group to deliver its growth strategy
  • Restructuring of Mexico and closure of Malaysia business units in line with the Group’s commitment to maximise value from its assets and focus on the areas with the strongest prospects
 
Jason Walsh, Chief Executive at CPP Group, said:

“The first half of 2021 was a similar story to that of 2020, with a strong first quarter tempered by the negative effects of COVID-19 in the second, particularly in our main market of India. Nonetheless, we have adapted well across our markets and delivered a solid overall performance on the corresponding period last year while making progress in restructuring elements of the Group to further strengthen its position for long-term, sustainable and profitable growth.

“We remain focused on growing our offering through innovation and strengthening our routes to market while continuing to drive efficiencies across the Group.

“Looking ahead, while the backdrop remains an uncertain one, the recovery we have seen in India and the continued traction in our other core markets gives us confidence that 2021 will be another year of progress. This view is underpinned by favourable macro-trends and a proven ability to innovate in collaboration with our partners to develop products that resonate with consumers, as well as a strong balance sheet and an organisational structure that is increasingly optimised for success. Therefore, whilst uncertainty remains from COVID-19, the Board believes the Company is trading broadly in line with market expectations for the full year.”

2021 Half-year report
Other posts
Our websites
  • India
  • Italy
  • Spain
  • Turkey
  • United Kingdom
  • Blink Innovation
  • Globiva
Stay in Touch

Keep up to date on social media or contact us with any other information

Twitter Linkedin-in Facebook-f
  • Privacy statement
  • Modern slavery statement
  • Terms of use
  • Accessibility
  • Cookie policy
  • Colleague data privacy notice
Menu
  • Privacy statement
  • Modern slavery statement
  • Terms of use
  • Accessibility
  • Cookie policy
  • Colleague data privacy notice

CPPGroup plc registered office address 6 East Parade, Leeds, LS1 2AD – Registered in England and Wales Number: 7151159.
Copyright © CPPGroup plc 2023. All rights reserved to their respective owners.

This website or its third-party tools process personal data (e.g. browsing data or IP addresses) and use cookies or other identifiers, which are necessary for its functioning and required to achieve the purposes illustrated in the cookie policy. You accept the use of cookies or other identifiers by closing or dismissing this notice, by clicking a link or button or by continuing to browse otherwise.
More information Accept
Privacy & Cookies Policy

Privacy Overview

This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
Necessary
Always Enabled
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Non-necessary
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
SAVE & ACCEPT
Share This
  • Facebook
  • Twitter
  • LinkedIn