CPP Group's full year profit to be ahead of of expectations

18th Nov 2016 08:05

(ShareCast News) - Shares in CPP Group, a financial service assistance business, soared above 40% on Friday, as the company updated its operating profit expectations for the year.The AIM-listed company said that a combination of cost controls, increased sales volumes in India, and the impact of a weaker sterling on the results of European operations meant it now anticipated underlying operating profit for the year ended 31 December to be "materially ahead of expectations".It also said that it continues to negotiate an agreement with SPP, a provider of insurance software, to develop an IT platform on the company's systems.Shares in CPP Group were up 43.62% to 7.77p at 0854 GMT.