Capita Plc Remains On Track To Deliver Revenue Growth In 2021

Capita plc (CPI.L), on Monday, said it witnessed an improving trend in its trading performance in the first half of the year, in line with its expectations. Further, the company added that it remains on track to deliver revenue growth in 2021, for the first time in six years, despite the ongoing impact of COVID lockdowns, in particular in its Specialist Services division.

The company has received a number of significant contracts this year, including the Royal Navy Training contract through our Government Services and People Solutions divisions, the extension of a European telecoms client and an extension for Tesco Mobile, both in Customer Management.

Hence, Capita currently expects half-year adjusted revenue to be flat on prior year adjusted revenue.

Cash collection has improved in line with underlying trading performance and benefited from better than anticipated customer payments. Liquidity remains strong at £689 million on 17 June, ahead of the scheduled repayment of c.£160 million of private placement notes in July, the company added.

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