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Capita turnover up 17%

By BFN News | 09:11 AM | Tuesday 24 April, 2012


Capita has made an encouraging start to 2012 with first quarter turnover 17% up on a year ago. Capita says this is mainly due to the additional revenue from acquisitions undertaken during 2011 as well as good progress across the group's businesses. It adds: "We have also had a successful period in bidding for new contracts, winning a total of £900m major sales opportunities in the first 16 weeks of the year (full year 2011: £2.0bn). "Our bid pipeline remains strong, particularly across the central and local government markets, and we also have an extensive list of opportunities sitting just behind the pipeline. "We have acquired six complementary businesses in the period which will add further capabilities, enhancing our propositions to clients in existing and new markets. "Additionally, since our preliminary results announcement in February, we are seeing a greater number of acquisition opportunities which could add further value." At 9:11am: (LON:CPI) Capita Group share price was -39p at 690p Story provided by StockMarketWire.com