Former Capita Symonds division enjoys strong first year as Capita Property and Infrastructure
Capita鈥檚 property and infrastructure division posted strong financial results for the year to 31 December 2013, with operating profit more than doubling over the period.
The business is also planning to recruit 200 additional staff this year in response to improving UK market conditions, the division鈥檚 chief executive Richard Marchant has told 好色先生TV.
The recruitment drive will boost Capita Property and Infrastructure鈥檚 headcount by 5% to 4,000.
The news came as the division - rebranded from Capita Symonds last summer - grew operating profit by 129% to 拢16m in the year to 31 December 2013, up from 拢7m the previous year.
Revenue rose 9% to 拢297m, up from 拢273m.
Marchant said the division had completed restructuring its design and management business during the period and expected revenue and profit to be 鈥渟ignificantly better in 2014鈥�, adding: 鈥渨e get that confidence from our sales numbers and pipeline鈥�.
Over the period Marchant said the division had enjoyed a 鈥渟ignificant upturn鈥� in London, while work was 鈥渟tarting to pick up鈥� in the regions.
He said the firm鈥檚 regeneration and health market sectors, as well as its project, cost and construction management teams in London, were performing well.
He said he expected Capita to find out the winner of the race to become the Defence Infrastructure Organisation鈥檚 strategic business partner 鈥渧ery soon鈥�.
The contract is worth up to 拢400m plus. The three shortlisted bidders are: Telereal Trillium, KPMG and Mace; Serco, DTZ and Bechtel; and Capita, URS and PA Consulting.
Marchant said that, should Capita win, it would be a 鈥渟ea change鈥� for the business.
Outsourcing giant Capita disclosed the figures as it published group-wide results for the period last Thursday.
Revenue across Capita was up 15% to 拢3.9bn, while pre-tax profit rose 14% to 拢475m - boosting the firm鈥檚 share price 73p, or 7%, to 拢11.58.
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