Capita on track for 2014 thanks to flurry of new contract awards
OUTSOURCING firm Capita said yesterday that it feels confident of achieving growth in line with market expectations this year, after “a strong start to 2014” where it secured £1.1bn of new contracts.
The FTSE 100 company was awarded contracts with Transport for London, John Lewis and the Ministry of Defence, with its bid pipeline standing at £5.5bn as of 27 February. Capita’s strong performance contrasts to peers G4S and Serco, who saw their reputations and order books ravaged after a fraud scandal over a prisoner-tagging contract.
Capita has acquired six new businesses for a total of £201m this year, expanding into new geographies.“Our bid pipeline remains buoyant and…there is a good flow of further opportunities which will continue to fuel the bid pipeline and organic growth in 2015 and the following years,” said the firm. All resolutions were passed at yesterday’s annual meeting.