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Capita sees 09 profit growth, says mkts robust

Wed Nov 18, 2009 1:02pm IST
 
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* Says outsourcing market still robust

* Expects to deliver underlying profit growth in 09

(Adds details)

LONDON, Nov 18 (Reuters) - British outsourcing group Capita (CPI.L: Quote, Profile, Research) said it performed well in the third-quarter, driven by a robust outsourcing market, and that it expected to deliver underlying profit growth in 2009.

Britain's biggest back-office outsourcer, which takes payments from UK television licence holders and produces payslips, on Wednesday said its property consultancy, resourcing and share registration divisions were performing well but that its collectives and investment trust administration unit had been hit by higher IT and regulatory compliance costs.

"Businesses across the group are trading robustly and the market for outsourcing remains active. We are confident we will deliver underlying profit growth for 2009 in line with market expectations," Chief Executive Paul Pindar said in a statement.

Outsourcers have benefitted from the recession as government and companies have farmed out more work to cut costs.

Fellow back-office outsourcer Serco (SRP.L: Quote, Profile, Research) earlier this month said it continued to perform strongly in the second-half and it was on track to meet expectations for 2009. [nWLA7986]   Continued...