CPP Group cuts losses in “pivotal” year

CPP Group, a Leeds-based provider of real-time, digitally delivered assistance products, has cut its losses in a “pivotal” year.

According to full year results for the 12 months ended 31 December 2024, pre-tax losses from continuing operations stood at £2.7m, improving from £5.7m in 2023.

Meanwhile, group revenue from continuing operations was £156.4m, decreasing from £173.4m in 2023.

Simon Pyper, CEO of CPP Group, said: “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.”