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Capita returns to FY profit
(Sharecast News) - Outsourcing and professional services company Capita said on Thursday that it returned to adjusted profits in 2022, driven by contract wins and an improved order book. Capita posted a full-year adjusted pre-tax profit of £73.8m, a marked improvement when compared to a pre-tax loss of £122.8m a year earlier, while adjusted revenues ticked up from £2.78bn in 2021 to £2.84bn in 2022.
The London-listed group also highlighted that it had won £2.85bn worth of contracts in 2022, down from £3.42bn in 2021, while its order book stood at £5.8bn as of 31 December.
Chief executive Jon Lewis said: "Amid a challenging macroeconomic environment, we believe we have a resilient business. We expect to continue to deliver improving financial performance, while providing excellent operational performance for our clients."
As of 1010 GMT, Capita shares had shot up 10.65% to 32.22p.
Reporting by Iain Gilbert at Sharecast.com
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