Contract wins accelerate at Capita

(By Anthony Miller) Capita almost doubled the value of major contract wins since the end of June with no signs of its business flagging due to the credit crunch (or any other reason for that matter!). In today’s trading update (see here) CEO Paul Pindar reported over £1.2bn of new major deals so far this year (1H08: £626m) and reiterated his expectation for ‘in line’ results for year-end. More importantly, he saw “the ingredients in place to perform well in 2009 and beyond”. As you might expect when you sign major deals with average contract length not a lot under a decade. We won’t bore you yet again with the ‘recipe for success’ of this most ‘boring’ of IT/BPO services companies. Suffice it to say that there seems to be no good reason why they just can’t keep on doing it.