PracticeConsultingGrowing Capita gains foothold

Growing Capita gains foothold

Professional services and support company, Capita Group, today releases its first set of interim results as a member of the FTSE-100.

A number of new economy stocks that swept into the FTSE-100 index in March were pushed out again last month, but Capita has retained its foothold and continues to grow.

Executive chairman Rod Aldridge, a CIPFA accountant, last week revealed Capita had clinched a public private partnership with the Local Government Association to provide consultancy services to all 172 education authorities in England and Wales.

The deal follows the group’s acquisition of IRG, the UK’s third largest share registration services company, for £100m in April, giving the group access to a client base of 1,200 companies quoted on the London Stock Exchange.

A £2.5m investment in www.myshares-online.com in April also gave Capita a 31.5% share in the online service to investors in employee share schemes.

Aldridge commented: ‘The two businesses considerably enhance Capita’s service offering to the private sector and will establish the key platform for further growth in financial and human resource services.’

Earlier in the year, Aldridge clinched a deal in the education sector offering massive earning potential when Capita teamed up with US software giant Microsoft to operate an educational portal for the new Windows 2000 systems bound for 23,000 UK schools.

Aldridge, who The Sunday Times this year ranked as 377th in its rich list with a personal wealth of £80m, started his career at East Sussex council as a treasury trainee before working at CIPFA.

In 1987, Aldridge led a £350,000 management buy-out of the public sector accountancy institute’s computer group, set up when councils were made to put services out to tender. It has grown into a #3.5bn business with an average annual profit growth of 42%.

Ex-CIPFA company makes FTSE 100 debut next week

Related Articles

5 tips for SMEs to protect cash flow

Accounting Software 5 tips for SMEs to protect cash flow

5m Alia Shoaib, Reporter
Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

Consulting Tyrie on Finance Bill 2017: ‘Making Tax Policy Better’

11m Stephanie Wix, Writer
Managing partner Q&A - the year ahead: Richard Toone, CVR Global

Accounting Firms Managing partner Q&A - the year ahead: Richard Toone, CVR Global

12m Kevin Reed, Writer
Deloitte 'self-imposes exile' on government contracts to defuse PM row

Accounting Firms Deloitte 'self-imposes exile' on government contracts to defuse PM row

12m Kevin Reed, Writer
Managing partner Q&A - the year ahead: Julie Adams, Menzies

Accounting Firms Managing partner Q&A - the year ahead: Julie Adams, Menzies

12m Kevin Reed, Writer
Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

Business Regulation Friday Afternoon Live: Deloitte's tech thing; PAC wants HMRC 'contingencies'; and Sports Direct

1y Kevin Reed, Writer
Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

Audit Friday Afternoon Live: HMRC complaints rise; Deloitte scoops big audits; and corporate reporting woes

1y Kevin Reed, Writer
New head of equity capital markets for KPMG

Accounting Firms New head of equity capital markets for KPMG

1y Stephanie Wix, Writer