Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).


For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.


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.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.


In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.


We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.


We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.


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.


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.


Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

Capita Group PLC (CPI)

  Print      Mail a friend       Annual reports

Tuesday 06 May, 2008

Capita Group PLC

Interim Management Statement

6 May 2008


The Capita Group Plc ("Capita"), the UK's leading business process outsourcing
("BPO") and professional services company, is today issuing its first Interim
Management Statement, as required by the UK Listing Authority's Disclosure and
Transparency Rules. This statement coincides with its Annual General Meeting
which is taking place today.

Summary for the period from 1 January 2008 to date:

Capita has performed strongly in the first 4 months of 2008. Businesses across
the Group are trading well and the market for significant outsourcing
opportunities remains buoyant.

Major contracts

To date this year, we have secured major contracts and renewals to deliver
outsourced services worth a total of £384m, on behalf of:

  * Marsh Ltd - to transform and deliver Marsh UK's back office administration
    functions based in Norwich. Under the agreement, Capita will provide
    support and processing services to enhance Marsh's broking activities to
    clients across its business. The contract is worth approximately £200m over
    10 years. Contract negotiations are in their final stages.
  * Principle Insurance Holdings, (formerly British Islamic Insurance Holdings
    / BIIH) - entered into a contract to provide outsourced services for
    Principle's motor and home insurance. Capita will provide front and back
    office services and an IT platform from which to launch and sell Sharia
    compliant insurance (or Takaful) products on behalf of Principle Insurance
    direct to consumers in the UK. The contract is worth in excess of £80m over
    8 years based upon projected product volumes. Service structure
    implementation has commenced.
  * Sefton Metropolitan Borough Council - preferred bidder to develop a 10 year
    strategic partnership to deliver a wide range of property and highway
    services. The contract, valued at approximately £70m, will be delivered by
    Capita's property and infrastructure consultancy, Capita Symonds.
  * Teachers' Pension Scheme - a one year extension worth £10m to provide
    pension administration services to the Teachers' Pension Scheme until 2011.
  * eircom - a further contract signed with Ireland's leading telecoms provider
    to manage the delivery of part of its directory enquiry services. The
    contract is worth £17m over a five year period. Service commenced in March
We announce the size of our bid pipeline twice a year at our interim and
full-year results. This is a snapshot of bids, worth £10m or above, where we
have been shortlisted to the last 4 or fewer. Our bid pipeline stood at £2.5bn
on 29 February 2008 and we are encouraged by the progress of opportunities both
in and just outside of the bid pipeline. Our most active markets remain life
and pensions, local government and insurance.We face no material rebids
(greater than 1% of the previous year's revenue) until 2010.


Acquisitions form an important part of our growth strategy. To date this year,
we have acquired 5 businesses for a total consideration of £54m. The two
largest were Computerland UK plc acquired for £28.9m and Lancaster Insurance
Services acquired for £16.5m.

Computerland UK plc, which provides services designed to improve business
productivity, increase the quality of IT and reduce IT costs to corporate
clients, will add substantially to the breadth and depth of Capita's existing
capability, particularly through the bringing together of both companies'
managed IT services, and will enable Capita to offer enhanced propositions to
existing and new clients.

Lancaster Insurance Services specialises in providing insurance for classic
cars. The acquisition of Lancaster will add both new, specialist expertise and
important cost synergies to Capita's personal insurance intermediary and
administration business.

Update on financial position and share buybacks

Our strong financial position and relatively low level of gearing has been
maintained with some of the surplus cash flow used to undertake share buybacks
when market conditions are attractive. This maintains an efficient capital
structure and minimises our long term cost of capital. To date in 2008, the
Group has bought back 5.9m shares (representing 0.98% of the issued share
capital) at an average price of 661p per share. Following these buybacks the
Company holds 5,999,894 shares in Treasury and has 607,271,898 shares in issue
(excluding Treasury shares). We will continue to look for opportunities to
return further value to shareholders through share buybacks and a progressive
dividend policy.

Operational delivery and performance

Our excellent track record of operational delivery continues to generate strong
client references which support future business opportunities. Following an
unprecedented number of major contract wins, our focus over the past six months
has been on ensuring that the operations and employees of these services have
been successfully transferred into Capita.

The first quarter has seen the smooth transition of our largest contract to
date, worth £722m with Prudential. The contract is to provide customer
servicing, policy administration, new business processing, claims activity and
related IT support to Prudential UK. The contract commenced in April 2008 with
the transfer of 1,750 Prudential staff working in the UK. A further 1,250 staff
working in Mumbai will transfer on 1 August 2008 therefore doubling our
operations in India.


Revenue growth across the Group is very encouraging, with a particularly strong
performance from our Life & Pensions Division. We continue to place the highest
priority on operational excellence and accordingly we are accelerating
investment in management in this division to ensure we remain superbly
positioned for further growth in the future.

We believe our prospects for the current year and thereafter remain strong.


For further information please contact:

Paul Pindar, Chief Executive

Shona Nichols, Corporate Communications Director

Tel: 020 7799 1525

Media enquiries:

Caroline Mooney

Capita press office

Tel: 0207 654 2152 or 0870 2400 488 (out of hours)

Andrew Lorenz

Financial Dynamics

Tel: 020 7269 7121

Notes to editors:

The 2008 Annual General Meeting will commence at 11:00am at Deutsche Bank,
Winchester House, 1 Great Winchester Street, London EC2N 2DB. 

The Capita Group Plc is the UK's leading provider of integrated professional
support service solutions.  The Group's service capabilities encompass customer
services, financial services, human resource services, software services,
systems and strategic support and property services delivered to both public
sector and private organisations.  With over 29,000 employees at more than 300
offices across the UK, Ireland and India, Capita is quoted on the London Stock
Exchange (CPI.L), and is a constituent of the FTSE100 with revenues for 2007 of
£2,073 million.

Further information on The Capita Group Plc can be found at: http://


a d v e r t i s e m e n t