Capita puts rivals in the shade with £1.1bn contracts
Monday 12 May 2014
Outsourcer Capita continued to race ahead of its embattled rivals G4S and Serco, picking up £1.1 billion in new contracts so far this year.
The new orders - including a five-year deal with Transport for London to operate the congestion charging and low emissions zones - have boosted Capita’s bid pipeline to £5.5 billion, putting it on track to meet full-year expectations.
Capita has also weathered the departure of long-serving chief executive Paul Pindar in March to avoid the calamities of scandal-struck G4S and Serco, both facing a criminal probe by the Serious Fraud Office over the tagging of dead prisoners.
The company has also spent £201 million this year on six acquisitions, boosting its IT and software arms and moving Capita into mortgage processing for the first time.
Shares were virtually flat at 1102.5p today but broker Panmure Gordon lifted its target price to 1200p.
Analyst James Cooke said: “We believe there is good potential for earnings upgrades as we progress through the year.”
- 1 Avengers: Age of Ultron: Nearly 700 German cinemas refuse to show movie
- 2 Donald Trump decides that Baltimore riots are Barack Obama's fault
- 3 X Factor in crisis as numbers of people auditioning plummets
- 4 General Election 2015: Stephen Hawking says he will vote Labour
- 5 Baltimore riots: Furious mother marches her son home live on TV
Bali Nine executions live: Indonesian firing squad shoots dead eight drug offenders despite outcry around world, but a ninth is spared
Keith Harris dead: Orville the Duck ventriloquist dies aged 67 following battle with cancer
The four utterly contradictory polls that tell the story of this election and why it is pointless trying to predict the outcome
Donald Trump decides that Baltimore riots are Barack Obama's fault
General Election 2015: Prospect of Labour-SNP coalition makes one in four voters less likely to support Ed Miliband, says survey
General Election 2015: Chuka Umunna on the benefits of immigration, humility – and his leader Ed Miliband
The sickening truth about food banks that the Tories don't want you to know
Aaron and Melissa Klein: Oregon anti-gay bakers ordered to pay $135,000 after refusing to make cake for same-sex wedding
EU exit would hit UK economy much harder than neighbouring countries, study finds
Andrew Lloyd Webber: Phantom of the Opera writer mocked after issuing a warning about Ed Miliband and Nicola Sturgeon
General election 2015: Labour will toughen hate crimes legislation surrounding Islamophobia
iJobs Money & Business
£30000 - £38000 per annum: Recruitment Genius: They are a financial services c...
£Basic (OTE) + Uncapped Commission: Guru Careers: A Stockbroker (qualified / p...
£20000 - £60000 per annum: Recruitment Genius: Are you recently QCA Level 4 qu...
£20000 - £22500 per annum + OTE £30K: SThree: SThree Group have been well esta...