Capita Secures GBP525 Million UK Defence Ministry Fire & Rescue Deal

(Alliance News) - Capita PLC said Thursday it secured a GBP525 million contract to modernise the ...

Alliance News 18 July, 2019 | 1:03PM
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(Alliance News) - Capita PLC said Thursday it secured a GBP525 million contract to modernise the fire and rescue service of the UK Ministry of Defence.

The 12-year deal will see the FTSE 250-listed support services firm assist the MoD in delivering its Defence Fire & Rescue Project. Capita was initially selected as the winning tenderer by the MoD in June 2018.

The agreement will see Capita work on 53 fire stations operated by the MoD in the UK, Falkland Islands and Cyprus. The project will see digital technology deployed, new fire engines acquired and other equipment upgraded.

In 2018, Capita generated GBP272.6 million in pretax profit on revenue of GBP3.92 billion.

"Capita is a longstanding partner and strategic supplier to the Ministry of Defence and has a record of delivering technology-enabled transformation of complex services, while at the same time providing value for money," Capita Chief Executive Officer Jon Lewis said.

"This contract is a measure of the confidence and trust government has in Capita's ability to deliver critical public services, and underlines our drive to build on the strengths of our existing relationship with government", Lewis added.

Shares in Capita were 0.7% higher at 115.30 pence in London on Thursday.

By Ahren Lester; ahrenlester@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
Capita PLC 121.60 GBX -1.54 -
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