Capita profits from outsourcing boom
CAPITA reported an 18 per cent rise in first-half profits yesterday as it benefited from government and companies outsourcing to cut costs.
The group reported a pre-tax profit of £141.7m, on the back of an 11 per cent rise in revenues to £1.31bn.
The results came in below analysts’ expectations, but chief executive Paul Pindar said the company was sticking to its full-year profits target of £320m.
“We certainly expect to meet analyst expectations for 2009. I think the consensus number is sensible and would represent around 17 per cent growth which would be a reasonable performance,” said Pindar.
The group said it would make more acquisitions to add to the £92.7m worth of purchases it made in the first half.