Regulatory Story
Go to market news section View chart   Print
CPPGroup Plc  -  CPP   

Re Contract

Released 11:00 06-Feb-2013

RNS Number : 2418X
CPPGroup Plc
06 February 2013

CPPGroup Plc

06 February 2013

Re Contract


CPPGroup Plc ("CPP" or the "Group") announces that, as expected and noted in the Group's announcement on 15 November 2012, RBS has now confirmed that it will not be renewing the Group's contract from March 2013 for the provision of Mobile Phone Insurance in the UK. 

The Group continues to make important progress as it significantly adjusts its UK business and effects the required actions to reduce its cost base to mitigate some of the adverse profit impact from lower revenue. Nonetheless, as previously indicated, the combination of the expected increase in FSA-associated costs, the anticipated decline of the UK business as a result of the restrictions imposed by the FSA, and lost business due to the decision by RBS not to renew its contract will have a substantial adverse impact on the business in 2013 and beyond.


For enquiries contact:


CPPGroup Plc

Helen Spivey, Head of Corporate & Investor Communications

Tel. +44 (0)1904 544387


Tulchan Communications

John Sunnucks

Martin Robinson

Tel. +44 (0)20 7353 4200

This information is provided by RNS
The company news service from the London Stock Exchange

London Stock Exchange plc is not responsible for and does not check content on this Website. Website users are responsible for checking content. Any news item (including any prospectus) which is addressed solely to the persons and countries specified therein should not be relied upon other than by such persons and/or outside the specified countries. Terms and conditions, including restrictions on use and distribution apply.


Re Contract - RNS