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Capita Group PLC (CPI)

  Print      Mail a friend       Annual reports

Thursday 25 October, 2001

Capita Group PLC

Trading Statement

Capita Group PLC
25 October 2001

                             THE CAPITA GROUP PLC

                               TRADING UPDATE:
                          ACROSS ALL BUSINESS AREAS

Major contracts worth £130 million awarded

The Capita Group Plc ('Capita') announces continued excellent progress across
its three platforms for growth:

-  three major contracts and a core contract extension secured
-  accelerated organic growth achieved across all divisions
-  a complementary acquisition completed

In addition to the developments announced today, the Group still has major
contract opportunities under bid worth £1 billion.  All these opportunities
have gone through the Group's internal selection process.  There is also a
further encouraging number of opportunities at earlier stages of development.

Rod Aldridge, Executive Chairman of Capita commented:

'Capita is experiencing a buoyant period of growth across the Group.  Our high
levels of new sales, increasing penetration of the financial services sector
and regular contract extensions means the visibility of our earnings going
forward is very high.  The current economic conditions are providing a number
of new opportunities which we expect to benefit the Group.  The strong
visibility of our earnings underpins our confidence for 2001 and 2002.  The
Board remains very confident that shareholders will be pleased by Capita's
performance for the year as a whole and continues to believe that prospects
for future growth remain excellent.'

Major contract wins

Capita is delighted to announce that it has secured two major contracts in the
financial services sector, a central government contract and a two-year
contract extension in the public sector, worth in total in excess of £130
million.  In the year to date, the Group has secured major contract wins worth
£850 million and over the last 21 months has won new work with a value in
excess of £1.5 billion.

Major New Contracts:

Norwich Union Insurance ('NUI') has selected Capita as one of its outsourcing
partners, to provide a loss adjusting service in respect of both household and
commercial locations in the UK.  Sixty staff will transfer from NUI to Capita
with the contract.  This new agreement builds upon the existing relationship
between Capita and NUI, under which Capita already provides a range of
complementary insurance services.

Lloyd's has appointed a wholly owned subsidiary of Capita, Capita Syndicate
Management Limited, as the substitute Agent to manage affairs of the
Cotesworth syndicates which are now in run-off.  Cotesworth & Co. Limited is
in the process of being placed in provisional liquidation.  Sixty staff and
the majority of directors of Cotesworth & Co. Limited will join Capita
Syndicate Management, a Lloyd's approved Managing Agent, to ensure retention
of their collective experience and knowledge and to maintain continuity of
service to clients.   The transfer of the Managing Agent's function of the
Cotesworth run-offs to Capita will further enhance security of service levels
as the operation will be able to draw upon the expertise contained within
Capita's substantial London Market operation and wider insurance support

The National Criminal Intelligence Service has chosen Capita as strategic
partner to provide managed IT support services for their central and regional
offices.  The 7-year contract will involve the end-to-end management of their
desktop and server environment and support infrastructure through the
employment of leading edge technologies.

In June 2000 Capita was appointed by the Department for Education and Skills
to administer the Individual Learning Accounts programme.  It was announced
yesterday by the Education and Skills Secretary Estelle Morris that this
programme is to be withdrawn from 7 December 2001.  We do not expect a
material impact.

Public Sector Extension

Capita has been awarded a two-year extension to April 2004 to the three-year
administrative services contract which was awarded by the Benefits Agency, now
the Department for Work and Pensions ('DWP'), in April 1999.  The contract
involves administrative support services for some 22,000 DWP employees sited
in 240 offices across the North West of England, North East of England and the
Midlands.  The contract extension positions Capita strongly to support the
newly formed DWP as it reshapes its business.

Incremental New Business

As previously announced, in the first six months of 2001 Capita secured £26
million of incremental new business across its three divisions.  In the
quarter ended September 2001, this total has already been exceeded with new
business awarded by both existing and new clients.

The HR businesses have secured several significant integrated and single
service contracts across the full spectrum of their service offering from
recruitment, payroll and pensions to HR outsourced administration and
outplacement services, worth an aggregate £8 million over the next three
years.  New clients include local authorities, central government departments
and a wide range of private sector clients including Xerox, Caradon and Kohler

Capita IRG has continued to grow strongly and so far this year, has added 102
clients.  In addition, efforts to cross-sell services to customers have been
highly successful and Capita IRG has raised the proportion of clients who buy
more than one Registration product from 10% to 40%.  A 'Boundary Sales Team'
has been appointed recently to be specifically responsible for cross-selling
the wider range of Capita products into the IRG corporate customer base.

Demand for insurance services throughout Capita Eastgate and Capita McLarens
remains strong.  As a result of the position that they have, the Group is
beginning to shape the thinking in the industry at a time when the
organisations within it are under considerable pressure to change.  A central
sales team has been created which will augment service line sales and create
further demand from existing and new clients for integrated services.  For
example, Capita Eastgate Insurance Services has been selected, following a
detailed tender process, as a provider of Broker Services to the Lloyd's
market in the event that a Lloyd's Broker should become insolvent.  Capita
will provide a range of services including initial response, claims
administration, helpline facilities and business transfer.   This selection is
a recognition of Capita's breadth of insurance services and its clear ability
to respond swiftly.  Capita is able to effectively assess the needs of both
policyholders and their insurers to achieve a smooth transition of claims
processing and to deliver ongoing business requirements.  Revenues will be
generated under this arrangement as brokers' operations are supported.

Our IT services are also buoyant with new business prospects strong and with
several contract extensions secured in the period.  For example, the Driving
Standards Agency has agreed that their central booking services (DTCS)
contract with Capita will not end next year, but will continue for up to a
further two years.  Capita's Education Portal, including the Parents Gateway,
was launched in September and is creating considerable interest from our
customer base.

Capita's Property Consultancy has secured substantial new business across both
the public and private sectors involving their full range of property
disciplines.  In the public sector, business has been secured mainly across
health and education projects, prison improvements and with the Immigration
Services, assisting with the provision of accommodation for asylum seekers, as
well as local and national infrastructure projects.  In the private sector,
significant growth has been achieved across a wide variety of developments
including leisure and residential projects.


Capita's third strand of growth comes from the acquisition of complementary
small to medium-sized businesses to enhance its existing services or
strengthen its positions in key markets.  The Company is presently examining a
number of potential acquisitions that could fit into several of Capita's
business areas.  One such acquisition has recently been completed.

Capita acquired on 1 October 2001 the entire share capital of Harford
Registrars, a London based registrar.  The net assets acquired were £0.5
million and the deal is expected to be earnings enhancing in the current year.
The company has an annual turnover of  £1 million and a broad client base
which has grown significantly in the last few years.  The business will be
integrated into Capita IRG, bringing fifty additional registration clients and
the potential for Capita IRG to extend the services that are presently
provided to them.


For further information:

The Capita Group Plc                                    020 7799 1525
Rod Aldridge, Executive Chairman
Paul Pindar, Chief Executive
Shona Nichols, Marketing Director

Issued by: Finsbury                                     020 7251 3801
Morgan Bone
Mark Harris


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