Key points
Revenue: £429.3m (-2%)
Net profit: N/A Staff: 3,200
Based on Trustmarque and several other acquired brands, Capita's ‘Technology Solutions' arm (which it recently renamed from ‘IT & Networks') saw revenue slide by four per cent to £429.3m in calendar 2019.
Citing figures from Teknowlogy group, Capita said this midmarket-focused wing of its business is a top-10 UK provider of digital IT and connectivity solutions and operates in a market worth £54bn and growing at a CAGR of 2.6 per cent. It blamed contract losses and reduced transactional business in LAN and voice networking solutions for its weaker 2019 numbers, which also showed adjusted operating profit dropping from £53.8m to £50.7m.
At a group level, £3.7bn outsourcing giant Capita is reportedly in the process of closing over a third of its offices as part of its shift to a hybrid working model.
