CPP Group's full year profit to be ahead of of expectations
Shares in CPP Group, a financial service assistance business, soared above 40% on Friday, as the company updated its operating profit expectations for the year.
CPP Group
139.50p
16:30 23/09/24
-0.36%
-0.50p
FTSE AIM All-Share
744.32
17:04 23/09/24
n/a
n/a
Support Services
11,387.37
16:49 23/09/24
0.63%
71.17
The AIM-listed company said that a combination of cost controls, increased sales volumes in India, and the impact of a weaker sterling on the results of European operations meant it now anticipated underlying operating profit for the year ended 31 December to be "materially ahead of expectations".
It also said that it continues to negotiate an agreement with SPP, a provider of insurance software, to develop an IT platform on the company’s systems.
Shares in CPP Group were up 43.62% to 7.77p at 0854 GMT.