Leeds card protection firm CPP H1 revenue hits £62m

CPP CEO Jason Walsh

Leeds-based credit card, identity and mobile phone protection firm CPP Group said on Thursday its revenue increased 3% to £61.8 million “with a strong Q1 being tempered by a COVID-19 constrained Q2, particularly in India.”

Profit before tax increased by 19% to £1 million and customer numbers increased to 10.9 million.

CPP has not proposed an interim dividend for 2020. Neither an interim or final dividend was proposed in 2019.

CPP chief executive Jason Walsh said: “I am very pleased with our performance so far in 2020. Our response to COVID-19 has underlined the resilience of our people, our quality relationships with partners and ultimately our strong financial position.

“In-keeping with our efforts to improve efficiency over recent years, we have reduced costs while delivering excellent services for customers, winning new business and building a healthy sales pipeline for the future.

“Our strategic ambition, to create tangible value for partners through self-sustaining operations around the world, remains undiminished but the way we achieve it will naturally evolve as a result of COVID-19.

“The sectors we target for growth and the products and services we offer will change in emphasis – they will reflect the new needs of the businesses with which we partner and their customers.

“Our ability to adapt and remain flexible, coupled with the continued close attention we give to the impact of coronavirus, makes me confident we are well placed to maintain our robust financial performance over the long term.”

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.