IN BRIEF: Capita celebrates PS370 million process services contract

Capita PLC - London-based outsourcer - Announces it was selected to deliver ‘the Synergy Business Process Services contract’ for four major UK government departments. Expects this contract to commence this month, and to run for up to ten years, with the option of three one-year extensions after the first seven. The contract is worth £370 million over the ten-year period. Capita says it will be delivering tech-enabled back-office services for public servants across the Department for Work & Pensions, Ministry of Justice, Home Office, and the Department for Environment, Food & Rural Affairs. These will include Human Resources, payroll, recruitment, finance, procurement, and service desk support.

Current stock price: 348.76 pence each, up 3.2% on Wednesday morning in London

12-month change: up 81%

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