CPP profits slump after FSA probe

Shares in credit card protection firm CPP closed 23 per cent lower yesterday after the firm announced a 24 per cent drop in underlying pre-tax profits to £19.2m for the first half of 2012. The York-based company said it had said aside a further £7.5m to meet potential compensation claims relating to the ongoing Financial Services Authority (FSA) investigation into the firm’s business practices.