Joe Hoppe
CPPGroup PLC said on Thursday that it expects revenues from continuing operations to increase in 2022 and earnings from continuing operations to outperform market expectations as it transitions to insurtech operations.
The assistance and insurance product provider said it expects revenues from continuing operations to grow 19% year-on-year, or 15% on a constant currency basis, but did not provide figures. Last year, his income from continuing operations was £143.6m ($177.3m).
Profit before interest, tax, depreciation and amortization from continuing operations is expected to exceed market expectations at around £6.9m, down from the recalculated £7.2m in 2021.
The company said it is on track with a new strategy launched in October, exiting its legacy business and transitioning to an insurtech business, led by Blink products and supported by CPP India and CPP Turkey.
The core business will perform well in 2022, and CPPGroup expects further progress in 2023, he said.
The company plans to announce its 2022 results on March 28.
0949 GMT shares were flat at 110.0 pence.
Please contact Joe Hoppe at joseph.hoppe@wsj.com.