Capita flags £14M direct H1 costs from CSPS contract, secures over £1B in new contracts, and identifies £40M additional savings
UK outsourcing firm Capita reported a £14 million direct cost and an additional £3 million collateral impact in the first half due to issues with its Civil Service Pension Scheme (CSPS) contract, with a further £25 million–£40 million profit-and-loss hit expected. Despite this, the company secured over £1 billion in new contracts with an 84% win rate, completed its £250 million cost-reduction program, and identified an additional £40 million in savings. Capita also highlighted its positioning as an AI-enabled services provider, with nearly 500 AI use cases already in production.
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