Contract wins lift Capita as profits climb 18%

Outsourcing specialist Capita has reported half-year profits of £103.8m, up 18% on the same period last year, based on turnover up 17% at £985m.

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Outsourcing specialist Capita has reported half-year profits of £103.8m, up 18% on the same period last year, based on turnover up 17% at £985m.

The firm, which counts Transport for London's congestion charge system and TV licensing payments among its contracts, said that organic growth was strong and the results had been further boosted by contract wins including Swindon Borough Council and Southampton City Council.

Other contracts signed this year underline the extent to which Capita has benefited from local authorities' enthusiasm for wide-ranging outsourcing deals, with Birmingham City Council one that signed a a new £142m contract with Capita in late May which added to an original £475m 10-year IT transformation contract between the two signed in April 2006.

In recognition of its performance, the firm has pledged to return £155m to shareholders through a special dividend.

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