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Capita Plc Full year results for the year ended 31 December 2012

Capita Plc Full year results for the year ended 31 December 2012

Good sales, operational and financial performance

Financial          Underlying*    Underlying*    Reported


                                 Year on year    change

Revenue            &pound3,352m        14%            &pound3,352m

Operating profit   &pound471.7m        10%            &pound340.9m

Profit before tax  &pound425.6m        10%            &pound290.0m

Earnings per share 53.16p        10%            37.08p

Total dividend per 23.5p          10%            23.5p share

Free cash flow     &pound316m          101%           &pound316m

*Underlying figures exclude: non-underlying non-cash items of intangible amortisation, net contingent consideration movements and impairments of &pound120.5m (2011: &pound56.5m) non-underlying acquisition costs of &pound10.3m (2011: &pound15.4m) and non-cash mark to market finance costs of &pound4.8m (2011 &pound10.4m).

Paul Pindar, Chief Executive of Capita plc, commented: "2012 was a year of strong sales and operational performance. We maintained good profit performance, returned to organic growth and delivered improved cash generation. This has positioned us well for 2013.

Our major contract sales success in 2012 gives us excellent revenue visibility for 2013. The continued buoyant sales environment, as evidenced by the rapid replenishment of our bid pipeline, provides the ingredients for further growth in 2013 and underpins our confidence in the Group's long term performance prospects."

Strongly positioned for growth across multiple markets


2012 was an excellent year for Capita. We achieved record sales, securing &pound4.0bn (2011: &pound2.0bn) of contract wins, comprising 90% new business and 10% extensions. This reflects the health of the UK business process management (BPM) and customer management market and the strength of our many service propositions. We have achieved particular sales success across the central and local government markets and in health, justice and emergency services, defence and the private sector.

We have delivered against the three key objectives that we set for the year:

- maintaining good profit performance

- securing organic growth of 3% for the full year

- delivering improved conversion of operating profit to operating cash compared to 2011.

In the full year 2012, revenue increased by 14% to &pound3,352m (2011:

&pound2,930m). Underlying operating profit (2) rose by 10% to &pound471.7m (2011:

&pound427.4m) and underlying profit before taxation (2) increased by 10% to &pound425.6m

(2011: &pound385.2m). Underlying earnings per share(2) grew by 10% to 53.16p (2011:

48.49p). We have increased our total dividend for the full year 2012 by 10% to

23.5p per share (2011: 21.4p).


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