Feeds

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

Chief exec Pindar 'has clear visibility of growth'

Internet Security Threat Report 2014

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. ®

Top 5 reasons to deploy VMware with Tegile

More from The Register

next story
Bladerunner sequel might actually be good. Harrison Ford is in it
Go ahead, you're all clear, kid... Sorry, wrong film
Euro Parliament VOTES to BREAK UP GOOGLE. Er, OK then
It CANNA do it, captain.They DON'T have the POWER!
Musicians sue UK.gov over 'zero pay' copyright fix
Everyone else in Europe compensates us - why can't you?
I'll be back (and forward): Hollywood's time travel tribulations
Quick, call the Time Cops to sort out this paradox!
Megaupload overlord Kim Dotcom: The US HAS RADICALISED ME!
Now my lawyers have bailed 'cos I'm 'OFFICIALLY' BROKE
Forget Hillary, HP's ex CARLY FIORINA 'wants to be next US Prez'
Former CEO has political ambitions again, according to Washington DC sources
prev story

Whitepapers

10 ways wire data helps conquer IT complexity
IT teams can automatically detect problems across the IT environment, spot data theft, select unique pieces of transaction payloads to send to a data source, and more.
Getting started with customer-focused identity management
Learn why identity is a fundamental requirement to digital growth, and how without it there is no way to identify and engage customers in a meaningful way.
The total economic impact of Druva inSync
Examining the ROI enterprises may realize by implementing inSync, as they look to improve backup and recovery of endpoint data in a cost-effective manner.
Reg Reader Research: SaaS based Email and Office Productivity Tools
Read this Reg reader report which provides advice and guidance for SMBs towards the use of SaaS based email and Office productivity tools.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.