YORK-based CPP says it has enjoyed a “robust” first half, and its new CEO, Steve Callaghan is determined to transform the business.
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:
Earlier this year, the company’s revival earned a positive appraisal from Blackfriar.