FINANCIALS: Capita on track to meet trading expectations

Capita says it anticipates 2017 trading to be in line with expectations.

That’s according to a pre-close trading update issued by the business outsourcing provider this morning.

The update reveals group trading in the year to date has been in line with expectations, and that Capita still expects underlying pre-tax profits – before significant new contracts and restructuring costs – to rise modestly in the second half of this year.

The group also revealed it has secured £471m of big contracts over the year, with a new seven-year contract with the Cabinet Office to administer the Royal Mail Statutory Pension Scheme (RMSPS) for its 400,000 deferred members and pension members as well as an extension of its customer management contract with British Gas to April 2019 secured in H2.

The group added that several bid decisions are also expected in coming months, while the value of its current bid pipeline is £2.5bn.

With regard to the ongoing restructuring of the group, Capita revealed it is broadening its transformation programme – which includes identifying more opportunities to improve cost competitiveness – while restructuring charges for this year are expected to be around £18m.

The group will release its final results on 1 March 2018.

Twitter Twitter

CONTRACTS & DEALS: 15-19 JANUARY 2018

This week’s contracts and deals: Capita, Fuel50, Graduate Promotions, Havas People, Jarell Group, Mercer, Nova Recruitment Services, Workday

Contracts 15 January 2018

FINANCIALS: Robert Walters reports positive group profits

Global recruiter Robert Walters has continued to see positive growth with group gross profit up 19% year-on-year, according to a trading update for Q4 2017.

9 January 2018

APPOINTMENTS: 18-22 DECEMBER 2017

This week’s appointments include: Capita, Corecom Consulting

People 19 December 2017

CONTRACTS & DEALS: 4-8 DECEMBER 2017

This week’s contracts and deals include: de Poel, Fusion Lifestyle, Head Medical, Hesketh James, ICON Training

Contracts 4 December 2017
Top