Paul Pindar, Chief Executive of Capita plc, commented:
"2011 was a challenging year in which we achieved reasonable revenue growth
and maintained our underlying operating margin. However, it was also
a successful year for Capita in respect of major sales wins, with a record
total value of £2.0bn new and extended contracts secured during the
year (2010: £0.8bn). This strong sales performance underlines our continued
ability to present innovative service solutions that deliver quality and cost
benefits to our clients, whilst delivering attractive rewards to Capita. We
also completed a series of acquisitions in 2011 which will play a key role in
extending our capabilities, enhancing our propositions to clients and making a
valuable contribution to our long term growth.
We already have good visibility of stronger revenue growth this year due to
renewed organic growth from our major contract sales performance in 2011
and to date in 2012 and the contribution from acquisitions. This visibility
and the current buoyant sales environment, evidenced by the rapid replenishment
of our bid pipeline, underpin our confidence in good growth prospects and
performance for 2012 and beyond."
Settlements consist of a £17.9m settlement for Arch cru and an additional
pension contribution of £10.0m on the transfer back of the Cumbria County
Council pension scheme.
Regular dividends - The Board is recommending a final dividend of
14.2p per ordinary share (2010: 13.4p), making a total of 21.4p (2010: 20.0p)
for the year. This represents an increase of 7%. The final dividend will be
payable on 28 May 2012 to shareholders on the register at the close of
business on 20 April 2012. Including the proposed final dividend, Capita's
total dividend will have grown at a compound annual rate of 19% over the 5
years to 31 December 2011. Dividend cover is 2.27 times for 2011.
