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Capita reiterates outlook, extends credit facility
(Sharecast News) - Capita has extended its £250m credit facility, the British outsourcer confirmed on Wednesday, as it reiterated its full-year guidance. The London-listed firm, which provides outsourcing services to clients across the public and private sectors, said it had extended the maturity date of the revolving credit facility by a year, to 31 December 2027.
The facility has been arranged by eight lenders, two of whom - Royal Bank of Canada and ABN Amro - are new members of the syndicate.
The update came as Capita confirmed its full-year financial guidance for "broadly" flat revenues and an operating margin improvement weighted to the second half of the year.
"We continue to expect the group to be free cash flow positive from the end of 2025," it added.
Capita is due to post interim numbers on 5 August.
Ahead of that, it published financial results for the first half of 2024 under its revised operating structure.
Group adjusted revenues were £1.2bn, and adjusted operating profits were £54.5m. The biggest contributor to both sales and profits was the public service division, with profits of £47.4m on revenues of £685.6m.
Under the revised operating structure, Capita's experience arm is now reported as three distinct subdivisions: contact centre, pensions and regulated services.
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