StockMarketWire.com - CPPGroup has increased provisions for compensation payments by £10.0m to £65.8m.

But the group says its underlying operating performance has continued in line with the trends outlined in its interim management statement on 30 October.

It says that as previously stated, the operating environment continues to be challenging and the group's performance for 2013 remains in line with previous guidance. The group is in the early stages of repositioning the business and remains focused on realigning the business model and cost-base whilst successfully completing the proposed scheme of arrangement to review claims and, where appropriate, pay redress to customers.

Significant risks and uncertainties remain in the short to medium term, particularly in relation to the scheme, liquidity and the on-going challenges of the operating environment.

Total costs and provisions made in the group's financial statements for customer redress and associated costs have increased by £10.0m to £65.8m. This additional provision reflects the group's latest estimate of customer redress and associated costs.

At 8:00am: [LON:CPP] CPP Group PLC share price was -0.88p at 8.5p



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