Plus   Neg

Capita Signs GBP 1 Bln Worth Royal Navy Training Services Contract

Capita plc (CPI.L) confirmed that it has signed a contract to provide training services to the Royal Navy and the Royal Marines. The contract will be worth an estimated 1 billion pounds for Capita, with opportunities to deliver further training according to the Royal Navy's requirements.

Capita said in mid-December that it was selected as the winning bidder to provide training services to the Royal Navy and the Royal Marines.

Capita said Monday that it will transform and modernise the Royal Navy's shore-based training across 16 sites in the UK as the lead partner in a consortium which includes Raytheon UK, Elbit Systems UK, Fujitsu and several smaller British suppliers.

The total IFRS 15 transaction price (order book) is 925 million pounds over 12 years. It excludes the effect of inflation increases over the contract term and other potential training opportunities with the Royal Navy.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Best Buy Co., Inc. is offering paid time off as vaccine benefit to all its employees amid the ongoing vaccinations against coronavirus. The company also announced bonuses to its hourly employees as a gratitude for the resilience shown by them as frontline workers during the crisis. The electronics retailer said it is offering paid time off for any employee who gets a COVID-19 vaccination. Entertainment company Walt Disney Co.'s exclusive streaming service Disney+ has added more content with the addition of the Star brand which launched today on the platform across Australia, New Zealand, Canada, and Europe. Disney+ with Star also launched today in Singapore, the first market to launch with the new general entertainment brand. Off-price retailer TJX Companies, Inc. (TJX) reported Wednesday that profit for the fourth quarter plunged from last year. Both earnings per share and sales for the quarter also missed analysts' expectations. TJX's net income for the quarter plunged to $325.52 million or $0.27 per share from $984.79...
Follow RTT