Welcome to our investor centre where you can learn more about our latest results, our strategy and find shareholder information.
CPP Group at a glance
CPP Group is a global, partner-focused, product and services company. We are well positioned across established and emerging financial services, mobile and travel markets with a strong heritage in delivering value for business partners and stakeholders.
pre-tax profit (-31%)
*2019 half year results (figures in brackets represent period-on-period constant currency change)
2019: Our half year review
A lot has changed in the first six months at CPP Group. In our half year results, we announced that we generated £60 million turnover and passed the 9 million customer mark. We have developed new business partnerships, launched new product lines and made further investments in both our core technology capability and our InsurTech business Blink creating value for our partners and shareholders.
Strong international revenues
We grew our international revenues, with the strong growth that we saw in 2018 being continued through the first half of 2019. Our Indian market has once again been the star performer significantly growing revenue by 45% to £40.9 million (H1 2018: £28.3 million). We continue to successfully diversify the business in India and have successfully launched LivCare, a new product line and signed new Card Protection contracts with major banking partners. We expect to grow revenue further with a strong contribution from India, but with additional support from our other key markets including Turkey and China which both delivered double digit revenue growth.
Investing in technology
We understand the impact technology has on the successful creation of value within any organisation. Our focus is on being a technology-led business that invests in digital capabilities to deliver strategic advantage to our partners by enhancing their customer journeys and helping them to monetise their data. We have commenced the build of our global technology platform that can be delivered in-country according to local business partner requirements. This will enable a nimble, responsive platform to be created by local specialists at a cost that is appropriate to that market. In addition, this platform enables us to migrate away from legacy UK based platforms to further reduce costs and increase efficiencies.
New markets and partnerships
We operate a business to business to consumer (B2B2C) model and recognise that the key to our success is the strength of the reciprocal business partner relationships that we build and nurture. Our priority is to establish and maintain strong relationships with market-leading partners that have large accessible customer bases. Our active business partners have increased 13% in H1 2019, including partnerships with American Express in India and BoCom in China, and we expect to see further gains in the remainder of the year. Group wide our existing and new partners give us potential access to over 200 million customers.
We continue to grow our global footprint and following our launch into Bangladesh we have now launched with a second large bank in the country. In Canada we are growing our customer base through a new partnership with Manulife and are pursuing opportunities with our recently created South East Asia hub. In the UK, we have developed a suite of technology-led key cover and cyber protection products targeting the insurance broker market.
New products and capabilities
We further diversified our Indian business to extend our deep relationships with existing business through the launch of a new health and wellness product line, LivCare. The performance of Globiva (CPP owns a 61% stake) has exceeded expectations, forming partnerships with global brands (Tui, American Express and Ola) and colleague numbers increasing to over 1,400, with a market value now in excess of our investment.
We further invested in our pioneering parametric insurance platform developed by Blink to transform the events-based insurance market (and now with over 250,000 customers) which has developed distribution partnerships in large markets across North America, Asia and Europe.