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Capita turns in solid year, despite challenges.

Paul Pindar

London: Public sector and outsourcing leader Capita has reported pre-tax profits up 6% to £385 million on revenues up 7% at £2.93 billion in the year to December 31 2011.

  • £2.0bn of major contract wins secured in 2011 (2010: £0.8bn), including
  • £0.9bn new contracts and £1.1bn renewals
  • £341m spent on 21 acquisitions in 2011
  • New service delivery capability established in Continental Europe
  • £620m major contract sales secured to date in 2012
  • Pipeline stands at £4.6bn as at 22 February 2012 (July 2011: £4.7bn)

Paul Pindar, Chief Executive of Capita plc, commented, '2011 was a challenging year in which we achieved reasonable revenue growth and maintained our underlying operating margin. However, it was also a successful year for Capita in respect of major sales wins, with a record
total value of £2.0bn new and extended contracts secured during the year (2010: £0.8bn). This strong sales performance underlines our continued ability to present innovative service solutions that deliver quality and cost benefits to our clients, whilst delivering attractive rewards to Capita. We also completed a series of acquisitions in 2011 which will play a key role in extending our capabilities, enhancing our propositions to clients and making a valuable contribution to our long term growth.

"We already have good visibility of stronger revenue growth this year due to renewed organic growth from our major contract sales performance in 2011 and to date in 2012 and the contribution from acquisitions. This visibility and the current buoyant sales environment, evidenced by the rapid replenishment of our bid pipeline, underpin our confidence in good growth prospects and performance for 2012 and beyond.'

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