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18 Jan 2021 | 11:46

CPP Group FY revenues, EBITDA set to beat estimates

(Sharecast News) - Products and services company CPP Group said on Monday that it has continued to win new business and build its pipeline of opportunities since the publication of its interim results in September. CPP said that the recovery in India, its key growth market, had been "stronger than anticipated", both in its core business and in its majority-owned business process management company, Globiva.

As a result, the AIM-listed group expects 2020 revenues to be roughly £140.0m, ahead of current market consensus estimates of £133.0m.

CPP also said its "solid trading performance" and "proactive focus on cost management| left it anticipating underlying earnings in the range of £7.1m to £7.3m - more than 10% ahead of the market consensus of £6.4m.

Chief executive Jason Walsh said: "Despite the ongoing disruption and uncertainty caused by the pandemic in the second half, we continued to deliver consistently high levels of service and grow our business.

"Our ability to respond quickly and effectively to the evolving needs of our customers and partners meant we were able to strengthen existing relationships and forge new ones, which will further benefit the Group in 2021 and beyond."

As of 1210 GMT, CPP Group shares had surged 47.56% to 484.0p.
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