July 25, 2013 / 6:27 AM / in 4 years

Capita H1 profit up 10 percent, confident on 2013

LONDON (Reuters) - Britain’s biggest outsourcing company Capita (CPI.L) posted a 10 percent rise in first-half profit and said it was confident for the rest of the year after winning a record 2 billion pounds worth of new contracts in the first half of the year.

The outsourcing company, whose contracts range from managing over 21 million life and pension policies to providing radios for Britain’s emergency services, posted pretax profit of 205 million pounds ($314.81 million) in the first six months of the year compared to the 186.4 million it made in the same period last year.

    Capita in May upgraded its 2013 organic growth forecast to at least 8 percent after a series of contract wins including a 1.2 billion pound deal with Telefonica’s (TEF.MC) O2.

    FTSE 100 company Capita, whose shares have in recent days touched an all-time high of 1,060 pence, closed at 1,037 pence on Wednesday, valuing the company at around 6.952 billion pounds.

    Reporting by Sarah Young; editing by Keith Weir

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