Capita sees turnover increase despite austerity measures
Capitas preliminary results for the year ended December 31, 2011, show that underlying profit before tax increased by six per cent to £385.2 million. Turnover was up seven per cent up overall to £2.9 billion.
Capitas preliminary results for the year ended December 31, 2011, show that underlying profit before tax increased by six per cent to £385.2 million. Turnover was up seven per cent up overall to £2.9 billion.
Capita said its performance in 2011 was impacted by the more challenging economic environment, including a range of austerity measures implemented across government.
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 billion 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.
