27th May 2015 08:22
LONDON (Alliance News) - CPP Group PLC shares rose on Wednesday after it said it intends to cease providing airport lounge access services currently marketed under the Airport Angel brand as part of its plans to increase the focus of the company's operations.
CPP shares were up 11.1% to 7.66 pence per share on Wednesday morning.
The international service and assistance company that operates in the financial services, telecommunications and travel sectors said the closure of Airport Angel is "not anticipated to have a material impact on the group's expected profitability in 2015 or beyond," it said in a statement.
CPP did not state when it would cease to provide the airport lounge access services, but said it would continue to ensure a high quality service in the intervening period.
"The decision to cease providing airport lounge access services is a further step forward towards CPP becoming a more focused, sustainable and profitable business," said CPP Interim Chief executive Stephen Callaghan.
By Joshua Warner; [email protected]; @JoshAlliance
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