Capita follows Logica with solid results

Capita is the latest outsourcing service provider to emerge from the recent slowdown in good shape with an increase in sales and profit in 2010.

Capita is the latest outsourcing service provider to emerge from the recent slowdown in good shape with an increase in sales and profit in 2010.

The company reported sales of £2.74m and profit of £395m, which were 2% and 10% increases over 2009 respectively.

Logica announced increased profits for 2010 while its sales were about the same as 2009.

Paul Pindar, CEO at Capita, says the company is a good position to secure new business in 2011.

"We enter 2011 with a record bid pipeline, increasing activity across the public and private sectors and some encouraging new contract wins."

He says public sector cuts give the company an opportunity. "The need for our public sector clients to achieve substantial cost savings and for private sector clients to increase their efficiency to remain competitive offers significant opportunities for the group going forward."

Capita's 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 2011 and thereafter."

Like Logica, Capita has had a strong start to 2011 with £244m in major new contracts and renewals secured in first seven weeks of 2011.

Logica signed contracts worth £475m in the first two months of 2011.

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