Feeds

Capita: Is that a bulge in your books or are you pleased to see us?

Chief exec Pindar 'has clear visibility of growth'

Eight steps to building an HP BladeSystem

Either the sun is getting to Capita boss Paul Pindar or excitement caused by the looming Olympic extravaganza has temporarily moved him.

The integrator today filed results for the first half of calendar 2011 with sales up 15 per cent to £1.6bn – but these were underpinned by the numerous acquisitions it made. Organic growth was flat.

Enter CEO Pindar to hail the bulging top-line expansion, claiming "organic growth" was "returning as expected".

Operating profit for the six months grew to £216.6m compared to £169.2m in the same period a year earlier.

Other highlights saw the firm secure £1.3bn of major contract wins – a record – in the six months as the bid pipeline recovered to £4.1bn.

In the two years to December 2011, Capita splashed £642m on acquisitions, and in the current fiscal year coughed £129m on 10 deals.

The firm also raised another £271m in April through an equity placing to fund a funnel of additional SME targets.

Pindar said: "[With the] major contract sales performance over the past 18 months, together with the contribution from recent acquisitions, we have clear visibility of revenue growth in 2012."

He described the sales landscape "as buoyant" and added the company is on track to meet yearly sales estimates.

The divisions including Investor and Baking Services, Integrated Services (particularly customer management services) and Workplace Services traded well, the company said.

However it added the "challenging economic environment continues to adversely hold back performance" in the property consultancy, parts of IT services and insurance services units.

The IT Services arm has been going through a restructure programme this year, putting 1,000 workers at risk of redundancy, shelving bonuses and pay rises.

The ITS division grew turnover to £317.8m, up from £288.1m a year earlier, but profits fell slightly from £29m to £28.8m. ®

Mobile application security vulnerability report

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
White? Male? You work in tech? Let us guess ... Twitter? We KNEW it!
Grim diversity numbers dumped alongside Facebook earnings
Bose says today is F*** With Dre Day: Beats sued in patent battle
Music gear giant seeks some of that sweet, sweet Apple pie
Amazon Reveals One Weird Trick: A Loss On Almost $20bn In Sales
Investors really hate it: Share price plunge as growth SLOWS in key AWS division
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
prev story

Whitepapers

Top three mobile application threats
Prevent sensitive data leakage over insecure channels or stolen mobile devices.
Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.