Capita Group PLC
12 July 2002
12 July 2002
THE CAPITA GROUP PLC
Pre-Interim Results Statement
The Board of Capita has noted the recent speculation regarding accounting
policies adopted by companies in the support services sector.
On 25th July, Capita will announce its Interim Results for the six months to
30th June 2002. As part of the Interim Results presentation Capita will
demonstrate that the company has consistently adopted more conservative
accounting policies than those required by the relevant accounting standards.
The Board of Capita intends to clarify on 25th July the details of the
requirements of the relevant accounting standards for contract costs: standards
SSAP9, FRS15 and UITF34, and to demonstrate how Capita consistently exceeds the
requirements of these accounting standards. The Board believes that Capita's
policies are robust, appropriate and consistently more conservative than those
required by the relevant accounting standards and is fully committed to
maintaining this cautious and prudent approach in the future.
In addition, on 25th July the Board expects to announce Interim Results that
will disclose strong growth in revenue, operating profits and earnings per
share. Looking ahead to the full year, the Board of Capita is aware of the
current forecasts in the market, including broker forecasts of growth in
earnings per share, pre goodwill amortisation, of 30% for the year to 31st
December 2002. The Board confirms that it has a high degree of confidence that
its track record of meeting or exceeding market forecasts will continue.
- Ends -
For further information:
The Capita Group Plc 020 7799 1525
Rod Aldridge, Executive Chairman
Paul Pindar, Chief Executive
Finsbury 020 7251 3801
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