Management at outsourcer Capita (CPI) must have been relieved to be able to announce some good news. The group released a trading update showing what could be the first green shoots of a recovery following the torrid time the group has been having in recent months.
The group has secured £318m in major contracts and extensions in the year to date, and its win rate has started to recover from the one-in-three reported at the last full-year results to one-in-two including the extensions. The group's rate was two-in-three at the full year to the end of 2015.
Capita has also managed to jettison its specialist recruitment businesses to private equity company Endless. The disposal of Capita Asset Services is ongoing and expected to be completed in the second half of 2017.
