Outsourcer Capita says buoyant market will keep group on track
The company is targeting organic revenue growth of 8 percent. The consensus forecast of 15 analysts was for full-year revenue of £4.33bn, which would represent a 12.5 per cent increase on the company’s 2013 revenue.
“We are confident it’s going to be at least 8 per cent,” chief executive Andy Parker said after yesterday’s results announcement sent the company’s shares nearly 4 per cent higher.
Mr Parker, who took over from industry veteran Paul Pindar in March, said Capita had achieved strong trading since the second half of 2012 and that the outlook remains buoyant after its £1.3bn of major contract wins in the first half of this year.
Capita, one of the sector’s market leaders in Britain, has benefited as central and local government and private sector companies have outsourced work to cut costs in the face of tighter budgets. It has also avoided the scandals over the private provision of public services that have damaged rivals G4S and Serco.
Founded 30 years ago, the company has grown rapidly over the past 15 years from a local authority contractor that now operates in 11 markets across Britain.