Your browser is no longer supported

For the best possible experience using our website we recommend you upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Capita profits surge

  • Comment

Outsourcing giant Capita has posted a double-digit rise in profits, with pre-tax profits up 15% to £163.1m for the first six months of 2010.

The outsourcer also unveiled a 4% increase in turnover for the same period, with revenues rising to £1.361bn from £1.311bn.

Councils represent the biggest share of Capita’s public sector work, at around 23% of group turnover, with 9% coming from central government and around 4% from the health sector.

The results follow reports that outsourcers are set to cash in as the public sector moves to slash costs.

Capita chief executive Paul Pindar said there was a “buoyant demand for outsourcing across both the private and public sectors” and singled out local government as one of its most active markets.”

He added: “Whilst the current pressures on public spending may potentially affect growth in the short term in a small number of our trading activities, the need for our public sector clients to achieve substantial cost efficiencies offers significant opportunities for the group going forwards.”

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.