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WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

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We store and use information you provide as follows:

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The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

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Capita PLC (CPI)

  Print      Mail a friend       Annual reports

Thursday 12 April, 2012

Capita PLC

Annual Financial Report


12 April 2012

                                  Capita plc                                   

Annual Financial Report

Capita plc will hold its Annual General Meeting at 11.00am on Tuesday, 15 May
2012 at Deutsche Bank, 1 Great Winchester Street, London EC2N 2DB.

Pursuant to Listing Rule 9.6.1, copies of the following documents have been
submitted to the UK Listing Authority and will shortly be available for
inspection at the UK Listing Authority's Document Viewing Facility, via the
National Storage Mechanism which is located at http://www.hemscott.com/nsm.do:

- Annual Report and Accounts for the year ended 31 December 2011

- Notice of Meeting dated 11 April 2012 for the 2012 Annual General Meeting

These documents are available on the Company's website: www.capita.co.uk.

Contact: Francesca Todd, Deputy Group Company Secretary, 020 7202 0641

A condensed set of the Company's financial statements and information on
important events that have occurred during the financial year and their impact
on the financial statements, were included in the preliminary results
announcement released on 23 February 2012. That information, together with the
information set out below, which is extracted from the Annual Report 2011, is
provided in accordance with the Disclosure and Transparency Rule 6.3.5. This
information should be read in conjunction with the Company's preliminary
results announcement. This announcement is not a substitute for reading the
full Annual Report 2011.

Principal risks and uncertainties

Careful risk management

Managed risk-taking is an important ingredient in our growth and success. We
are, therefore, focused on comprehensively assessing risks and understanding
which risks can be controlled and mitigated and which are outside of our
control. Where we believe there is a sensible balance of reward against any
potential risk, then we will proceed with specific business developments
including new contracts and acquisitions.

Systems and procedures are in place across the Group to identify, assess and
mitigate major business risks that could impact the delivery of our growth
strategy. Monitoring our exposure to risk is an integral part of the Management
Operations Business ("MOB") Review process.

The MOB process is supplemented across many of our businesses, including all
the regulated financial services businesses, by formally constituted risk
committees. A `Black Hat' process is additionally in place to discuss and seek
Group Board approval regarding acquisitions and major bids.

At Group level, risk management is independently facilitated and challenged by
the Group Risk and Business Assurance function. In respect of financial
services regulated businesses, there is also a Group Compliance function. Both
of these control functions report to the Group Finance Director and
independently to the Audit Committee. In addition, for regulated financial
services, there is a Financial Services Governance Forum which assists with the
Board's oversight of risk in this sector.

Key risk      Potential impacts               Mitigating activities include  
categories                                                                   
                                                                             
Financial     - Adverse effect on financial   - Financial performance of each
              performance and brand           business unit is monitored     
              reputation.                     monthly                        
                                                                             
                                              - Capital expenditure is       
                                              subject to rigorous monitoring 
                                              and budgetary controls.        
                                                                             
Delegates and - Reputation risk and financial - Rigorous risk-based due      
              loss e.g. disruption to supply  diligence processes for the    
counterparty  chain; service interruption.    selection of key delegates and 
failure                                       wider counterparties           
                                                                             
                                              monitoring.                    
                                                                             
Operational   - Failure to meet contractual   - Risk committees and Group    
risks         Service Level Agreements        Board escalation of risks/     
                                              issues                         
              - Financial penalties                                          
                                              - MOB process escalation       
              - Potential loss of contracts                                  
                                              - Operating performance        
              - Brand reputation impacted.    indicators in place            
                                                                             
                                              - Business resilience          
                                              arrangements in place          
                                                                             
                                              - Risk-based independent       
                                              assurance                      
                                                                             
                                              - Centralised proactive and    
                                              reactive PR team provides full 
                                              issues management              
                                              communications support.        
                                                                             
Acquisitions  - Planned synergies not         - Rigorous risk-based due      
and           achieved                        diligence                      
                                                                             
organic       - Adverse impact on financial   - Black Hat process:           
growth        growth and performance                                         
                                              - Fit with strategy and pricing
              - Financial penalties.          is subject to review and       
                                              approval by the Group Board    
                                                                             
                                              - Appropriate contractual terms
                                              to ensure fair risk/reward     
                                              profile                        
                                                                             
                                              - Robust integration and       
                                              transition process.            
                                                                             
Regulatory    - Weaker economic conditions    - Focus on 10 diverse public   
and           are a key driver for            and private sector markets     
              outsourcing, however, extreme                                  
economic      economic uncertainty can result - Focus on widening scope of   
landscape     in a delay in buying decisions  existing contracts to help     
              and lower discretionary spend   clients save money             
              across some market segments                                    
                                              - Supply of services that      
              - Changes to regulation in      support essential client       
              different jurisdictions could   functions rather than          
              potentially impact businesses   discretionary activities       
              located there.                                                 
                                              - Initiatives to increase the  
                                              efficiency of Group operations 
                                                                             
                                              - Increased compliance and risk
                                              monitoring of potential changes
                                              across all jurisdictions we are
                                              active in.                     
                                                                             
Attract and   - Lack of appropriate resources - Training and development     
retain staff  may lead to inability to                                       
              develop and execute business    - Continual development through
              plans                           objective setting and          
                                              appraisals                     
              - Poor staff morale                                            
                                              - Competitive incentive and    
              - Competitive disadvantage.     bonus plans                    
                                                                             
                                              - Succession planning          
                                                                             
                                              - Comprehensive vetting process
                                              in line with roles.            
                                                                             
Loss of       - Contractual and regulatory    - Appropriate policies and     
sensitive or  penalties                       procedures                     
                                                                             
confidential  - Adverse media comment and     - Robust information security  
data or       reputation impact on brand.     framework, including policies  
                                              and processes                  
failure to                                                                   
protect                                       - Escalation to risk committees
                                              and subsidiary boards          
consumers'                                                                   
funds                                         - Training and monitoring      
                                              programme across businesses    
                                                                             
                                              - Swift adoption of Group      
                                              policies and protocols by newly
                                              acquired businesses            
                                                                             
                                              - Sharing of best practice and 
                                              issues through cross-Group     
                                              forums                         
                                                                             
                                              - Regular monitoring through   
                                              risk-based audits and follow up
                                              of actions                     
                                                                             
                                              - Centralised proactive and    
                                              reactive PR team.              
                                                                             
Fraud,        - Potential for civil and       - Appropriate policies and     
bribery and   criminal penalties for business procedures in place including a
              and/or Senior Officers          `speak up' policy              
corruption                                                                   
              - Potential prohibition from    - Anti corruption culture and a
              bidding for public sector       zero tolerance approach with a 
              contracts in EU                 robust disciplinary process    
                                                                             
              - Media comment and reputation  - Risk assessments of          
              impact.                         vulnerabilities                
                                                                             
                                              - Monitoring and audit         
                                                                             
                                              - Centralised proactive and    
                                              reactive PR team.              
                                                                             
Financial     - Non-compliance with the       - Appropriate policies and     
services      requirements of the FSA and     procedures                     
              other financial services                                       
regulation    regulators, including           - Monitoring by Risk, Business 
              procedures to protect clients'  Assurance and Regulatory       
              assets                          Compliance teams               
                                                                             
              - Regulatory, financial and     - Escalation of risks to risk  
              contractual penalties           committees and subsidiary      
                                              boards                         
              - Adverse impact on reputation.                                
                                              - Risk-based assurance and     
                                              actions for improvement        
                                                                             
                                              - Independent reporting to     
                                              Group Audit Committee and Group
                                              Financial Services Governance  
                                              Forum.                         
                                                                             
Health and    - Non-compliance with health    - Rigorously applied health and
safety        and safety regulations          safety policy and processes    
                                                                             
              - Adverse impact on wellbeing   - Health and safety training   
              of our employees.                                              
                                              - Comprehensive Group wide     
                                              health and safety audits       
                                              undertaken twice a year.       
                                                                             
Environmental - As a low impact company our   - Raising awareness of         
              key environmental impacts are   environmental issues and Group 
              energy use, business travel,    sustainability initiatives     
              resource use and waste                                         
              management which we manage      - Continue to measure and      
              proactively.                    manage our carbon footprint and
                                              achieve energy reductions      
                                                                             
                                              - Environmental management     
                                              system in place                
                                                                             
                                              - Environmental site audits    
                                              carried out twice a year       
                                                                             
                                              - Reduction of paper use and   
                                              increase in recycling.         

Related party transactions

Compensation of key management personnel:

                                                       2011        2010      
                                                                             
                                                       £m          £m        
                                                                             
Short term employment benefits                         5.5         6.2       
                                                                             
Pension                                                0.2         0.1       
                                                                             
Share based payments                                   3.6         3.9       
                                                                             
                                                       9.3         10.2      

Gains on share options exercised in the year by key management personnel
totalled £5.8m (2010: £2.6m).

Nigel Wilson, Senior Independent Director, is Group Chief Financial Officer of
Legal & General Group Plc. The Legal & General Group Plc had an interest in
23,086,079 shares in Capita plc as at 16 February 2012 and has a contractual
relationship with the Group. Nigel Wilson does not participate in any Legal &
General board discussions or decisions in respect of that company's dealings
with Capita Plc which are conducted on an arm's length basis.

Directors Responsibility Statement

The Directors confirm that, to the best of their knowledge:

a) the consolidated financial statements in this report, which have been
prepared in accordance with International Financial Reporting Standards (IFRS)
as adopted by the European Union, IFRIC interpretations and those parts of the
Companies Act 2006 applicable to companies reporting under IFRS, give a true
and fair view of the assets, liabilities, financial position and profit of the
Group taken as a whole;

b) the parent company financial statements in this report, which have been
prepared in accordance with United Kingdom Accounting Standards (UK GAAP) and applicable
law, give a true and fair view of the assets, liabilities, financial position and profit
of the Company; and 

c) the management report contained in this report includes a fair review of the
development and performance of the business and position of the Company and the Group taken
as a whole, together with a description of the principal risks and uncertainties
that they face.

By order of the Board.

P R M Pindar                                        G M Hurst               
                                                                            
Chief Executive                                     Group Finance Director