REG-Capita PLC: Learning services contract renewal worth up to £124m

CapitaAnnouncement

03/08/2021 07:05

3 August 2021
 

Capita signs learning services contract renewal worth up to £124m with major
UK financial services client

Capita plc (‘Capita’) today announces it has been awarded a contract
renewal to provide a range of learning services for a major UK financial
services institution.

Building on a long-term partnership, the contract renewal – which started on
1 July 2021 – is worth up to £123.6m over five-and-a-half years.

Capita is already a trusted partner to the client, providing a broad range of
learning services, as well as market insight and thought leadership. These
services include learning consultancy, virtual and face-to-face learning
programmes, and digital and simulated learning.

Capita, through its Capita Learning business, will provide end-to-end learning
services to the client in a more innovative, digital and efficient way under
the renewed contract, partly as a result of Capita Learning’s recent
transformation.

Capita is also responsible for procurement and management of any third-party
learning suppliers to the client, including administrating training and the
sourcing of learning professionals to deliver on client projects.

The contract, which will directly service the learning needs of the client’s
employees, will be delivered by a team of 40 skilled Capita colleagues based
in Reading and Poland.

This is a significant renewal with a major client for Capita and forms an
integral part of the company’s ongoing transformation, supporting the
delivery of improving financial returns. The contract was won following a
competitive bid process.

Jon Lewis, Chief Executive Officer of Capita, said: “This contract renewal
demonstrates the strength and success of the long-term strategic partnership
we have with our client.

“As a result of working closely and collaboratively as a learning partner
for a number of years, we have been able to understand and adapt to their
changing needs effectively, ensuring they always have access to the skills
they and their people need”.

Notes to editors:

The majority of the contract is based on historical and expected volumes, and
therefore treated as transactional revenue. The IFRS 15 transaction price
(order book) for the five-and-a-half-year contract renewal is £4.2m.
 

For more information, please contact:

Investor enquiries
Stuart Morgan
Director of Investor Relations
Tel: 07989 665484
Email: IRteam@capita.co.uk

Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk
 

About Capita

Capita is a consulting, transformation and digital services business. Every
day our 55,000 colleagues help millions of people, by delivering innovative
solutions to transform and simplify the connections between government and
citizens, businesses and customers. We partner with our clients and provide
the insight and cutting-edge technologies that give time back, allowing them
to focus on what they do best, and making people’s lives easier and simpler.
We now operate across three divisions – Capita Public Service, Capita
Experience and Capita Portfolio – in the UK, Europe, India and South Africa.

Capita is quoted on the London Stock Exchange (CPI.L).

Further information can be found at: http://www.capita.com

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