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CPP reports year of ‘significant growth’ in full-year results

CPP has announced that group revenue has increased by 26% to £138.4m in the full-year ended 31 December 2019.

Revenue from ongoing operations increased by 37% to £121m, while adjusted EBITDA increased by 38% to £8.7m in the period. 

Start-up losses from its investment in business growth projects totalled £3.3m, however, up from £2.4m the year prior.

Nonetheless, operating profit increased to £1.6m, up from a £0.2m loss the year prior, while profit before tax increased to £1.1m up from £0.3m.

The group said that it had generated rapid growth in its international revenue and customer numbers in 2019, which led to a financial performance that was in line with the board’s expectations. 

It added that its key strategic markets and investments made “promising progress” in the period, and will “increasingly contribute” to its performance in the future.

Jason Walsh, CEO, said: “We are continuing to grow our standing as a truly international business with innovation and service at its core, with the strong global revenue performance reported in 2018 being exceeded in 2019. 

“Our re-entry into the UK market has developed well, with new acquisitions opening up growth potential as we establish our presence domestically.” 

He added: “Looking ahead, COVID-19 has created significant challenges to economies across the globe. 

“We have entered the year with a strong platform and have confidence that our operating model along with our deep ties with partners will enable us to navigate the global uncertainty and deliver long-term, sustainable value.”

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