Four key events in CPP’s history

A view of the CPP Group offices Photo: Anna Gowthorpe/PA Wire

CPP said it had a stable financial platform and stronger liquidity, following successful equity raising and debt restructuring at the start of the year, together with improved trading.

The group was fined £10.5m by the Financial Conduct Authority for mis-selling insurance products in 2012.

Mr Callaghan said today: “CPP is going through a significant transition. We are in the early stages of the group’s transformation plan and the team at CPP has clarity of purpose, a focused approach, and well-defined accountability. As the group looks to the future, we know what we have to do and understand the importance of maintaining momentum in the delivery of our plans to ensure we achieve a strong, sustainable and profitable future.”

Here’s some further reading about the company’s recent history:

In March, CPP said it was investing in a new IT system to help it develop more digital products following a £20m fundraising.

Four months later, it revealed it was replacing its chairman.

Earlier this year, the company’s revival earned a positive appraisal from Blackfriar.

Its performance has also been boosted by a £20m fundraising which was completed in March.