Capita returns to FY profit

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