Capita posts profits up by 11%

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Capita posts profits up by 11%

Rebecca Thomson

Capita enjoyed "steady organic growth" throughout 2009, according to the 2009 financial results it has just posted.

Major contract wins and renewals totalled £1bn, compared with £1.24bn in 2008.

The company focused on squeezing operational costs and growing its offshore business to help it cope with the economic downturn.

Its turnover was £2.69bn, compared to £2.44bn in 2009, and operating profit grew from £320.9m to £357.7m.

Paul Pindar, chief executive of Capita Group, said, "Capita delivered a strong performance in 2009. Organic growth was steady across the year with a number of new major contracts secured in the year and with businesses across the group delivering robust results. Additional spend by existing clients was lower in 2009 but a focus on optimising our operational infrastructure and the growth of our offshore operation ensured that we continued to increase margins.

"Capita is well placed to continue its growth and is enjoying a healthy flow of new business opportunities. Our pipeline of sales prospects, strong forward visibility of revenues from our long-term contracts and consistent operational performance position us well for further progress in 2010 and thereafter."


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