Outsourcing firm Capita secures £57m council contract extension and sells off £150m division big contract London-listed outsourcing firm Capita has secured an extension to its contract with Barnet council worth up to £57m, as it sold a division worth £150m. The company will continue to work with Labour-run Barnet Council to deliver back-office services in a deal worth £42.7m, with potential add-ons. With indexation and extra work the extension could [...]
Capita posts ‘strong’ first half results as BBC TV licensing contract boosts outsourcer’s revenues Capita Capita today posted “strong” results for the first half of 2022, after a series of “significant” government contracts boosted its H1 revenues. The outsourcing company said trading in the first half of 2022 sat in line with expectations, as it said its revenues were bolstered by the renewal of a £456m contract to run the [...]
London’s Capita sells government joint venture Axelos for £380m London's Capita sells government joint venture Axelos for £380m London-headquartered outsourcing firm Capita has sold its UK government joint venture Axelos for £380m, as Capita looks on track for growth for the first time in six years. Shares rocketed 6.03 per cent in this morning trading, taking its share price to 39.91p per share. The joint venture, set up by the firm with the [...]
Capita announces major restructure alongside plans to raise £700m March 17, 2021 Outsourcing giant Capita has announced a fresh restructuring plan alongside efforts to raise £700m from selling non-core assets, as it seeks to recover from a difficult year during the pandemic. The group, which provides IT-led business services to the public and private sector, will simplify its six operations into three divisions. Capita Public Service will [...]
Capita sells edtech business to Montagu for £400m December 14, 2020 Capita today announced that it has sold its Education Software Solutions (ESS) business to private equity firm Montagu for £400m. The announcement comes a few weeks after the FTSE 250 firm confirmed that it was in exclusive talks with the financiers. Shares in Capita rose 3.5 per cent on the back of today’s announcement, which [...]
Capita confirms talks to sell ESS to private equity firm Montagu November 27, 2020 UK outsourcing group Capita today said it is in exclusive talks with private equity firm Montagu about the potential sale of its Education Software Solutions (ESS) business. Capita said it “confirms” the negotiations after media speculation. Yet it said there “can be no certainty” that a deal will be reached. Bloomberg last month reported that [...]
Capita finance chief steps down November 16, 2020 Capita finance chief Patrick Butcher has today resigned after almost two years at the FTSE 250 outsourcer. The firm said that Gordon Boyd would step in as interim chief financial officer and executive director from 16 November. It added that Boyd has more than 30 years of experience working in business, and has been finance [...]
Friends again: The Co-op Bank and Capita have renewed a £141m contract after falling out in 2016 October 31, 2019 Capita has been tasked with running the Co-operative Bank’s mortgage servicing operations for the next six years, in a contract win which indicates the once-strained relationship between the two is back on course. The £141m deal comes after a public spat in September 2016, in which the Co-op Bank claimed the London-listed firm had failed [...]
Capita hikes pay for 6,000 employees to real living wage September 12, 2019 Outsourcer Capita will give a pay rise to 6,000 people next year, ranging from administrative staff to call centre workers, City A.M. can reveal. The company will pay all its UK employees a minimum of the real living wage from April, meaning they will get at least £9 per hour. In London, this is significantly [...]
Capita return to growth ‘distinctly possible’ as turnaround starts to do the trick August 1, 2019 Capita’s market value shot up today as investors toasted the first fruits of a sweeping turnaround plan. The outsourcer’s share price jumped 17 per cent on the news margins had grown in four of its six main business divisions. Capita runs the Ministry of Defence’s recruitment programme for the British army. The figures Pre-tax profit [...]