*UKHotViewsExtra* Capita grows on improving Experience

Business process services (BPS) player Capita continues its return to growth with outgoing CEO Jon Lewis (Capita CEO to retire) pointing to an “acceleration in financial performance” in H1. Adjusted revenue for the group ticked up 5.8% YoY to £1,402.4m (H1 2022: £1,326m), underpinned by an improving picture at the firm’s Experience division.

Capita now operates through two main divisions. Capita Public Service grew revenue by 2.4% to £731m helped by growth in its Royal Navy training contract and additional volumes in its Personal Independence Payments contract with the DWP offset by attrition within Local Government and reductions in the Northern Ireland teachers’ tech contract. Capita Experience appears to have turned a corner, with revenue growing 9% to £617.6m, benefiting from its Virgin Media O2 renewal and a commercial settlement in its Life & Pensions business.

TechMarketView clients, including subscribers to UKHotViews Premium can read the extended article here Capita grows on improving Experience. If you do not currently have access to this UKHotViewsExtra but would like learn more, please contact Deb Seth for more information.

Posted by Marc Hardwick at '09:20' - Tagged: results