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Capita lifted by 11% infrastructure growth

Capita grew its property and infrastructure business 11% during 2014 in a successful trading year.

The outsourcing giant reported revenue of £4.37bn (2013: £3.85bn), an increase of 14%, while pretax profits rose to £535.7M (2013: £475M), a rise of 13%.

Its property and infrastructure arm, Capita Symonds, increased turnover to £328.8M (2013: £297.3M). Operating profit was up 59% to £26.9M from £15.7M.

However, contract wins across the group were down considerably at £1.7bn (2013: £3.3bn).

Capita reported a bid pipeline of £5.1bn, split 53% to 47% between private and public sectors.

During the year, the firm spent £310M spent on 17 acquisitions, including geotechnical outfit BCS Design and project manager Projen.

Capita chief executive Andy Parker said: “2014 was a year of excellent financial performance, with 9% organic revenue growth, sustained high returns and levels of cash generation, and an active year for acquisitions.

“We have good visibility of strong revenue growth in 2015, which will be driven by the conversion of our bid pipeline, acquisitions and the full benefit from last year’s contract wins and acquisitions. “We have significant scope to increase penetration of our large and growing addressable market, supported by a number of structural factors such as fiscal pressure, digitisation, regulation and demographics and our own competitive advantages.

“This leads us to look forward to the medium to long term with confidence.”

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