LONDON (dpa-AFX) - Capita plc (CPI.L) reported first half profit before tax of 60.0 million pounds compared to a loss of 67.9 million pounds, last year. Profit per share was 3.07 pence compared to a loss of 5.06 pence. The Group said the result was boosted by 38.1 million pounds gains on the sale of businesses, including Fera. Adjusted profit before tax increased to 31.6 million pounds from 18.3 million pounds. Adjusted earnings per share was 2.14 pence compared to 2.68 pence.
For the six months ended 30 June 2024, revenue was 1.24 billion pounds compared to 1.48 billion pounds, previous year. Adjusted revenue decreased by 9% to 1.20 billion pounds.
For full year 2024, Capita plc projects a low to mid-single digit percentage adjusted revenue reduction. The Group expects modest adjusted operating margin improvement. Adjusted operating profit outlook is unchanged on an underlying basis.
The Group's medium-term financial targets are: delivering low to mid-single digit revenue growth per annum; operating or EBIT margin of 6 - 8%; and positive free cash flow from 2025.
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