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Capita confident over full year results
BRITAIN'S biggest back-office outsourcing company Capita Group said today it was confident full-year results would be in line with expectations and that it expects to perform well in 2009.
The company, whose contracts include collecting payments from Britain's television licence holders and providing IT services to Birmingham city council, said it won contracts worth 1.21bn ($1.82bn) in the 10 months to October 31.
"With the contracts won this year, trading prospects across our businesses looking steady and a buoyant bid pipeline, we have the ingredients in place to perform well in 2009 and beyond," said the company in a trading statement.
Analysts are expecting full-year pretax profit of 265.9m, up from 228.7m last year, according to a survey by Reuters Estimates.
In response, Seymour Pierce said it was leaving its full-year pre-tax profit estimate unchanged at 267.2m.
"Any short term weakness in public sector contracts should be offset by private sector growth," the broker said in a note.
"It is also worth noting that the largest area of growth for Capita so far this year has been its Life and Pensions outsourcing division."
Capita has around 4,200 staff in Yorkshire, including 2,635 in Sheffield who work in areas such as coal health claims, and education resourcing.
It also has 770 staff in Bradford, who are employed in insurance and legal services, and operations in Huddersfield and Wetherby.
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Wednesday 23 May 2012
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