Capita’s pensions division saw revenue growth but absorbed a £14 million cost from its Civil Service Pension Scheme contract in H1.
Capita (LON:CPI) posted a £14 million direct cost in the first half tied to its Civil Service Pension Scheme (CSPS) contract, alongside a £3 million collateral impact from redirected resources. The pensions division reported 24.7% revenue growth despite the drag.
The company said its broader public-sector business operated above 90% KPI performance, excluding CSPS. CEO Adolfo Hernandez noted progress in reducing backlogs and improving service capacity after shifting from crisis management.
Management highlighted contract wins and efficiency measures but acknowledged ongoing challenges in resolving CSPS issues.