BUZZ-UK's Capita rises on higher annual profit

Reuters03-05

** Shares of British outsourcing firm Capita CPI.L up as much as 7.14% at 14p

** Co posts 2024 adj operating profit of 95.9 mln pounds ($123.2 mln), a 5.5% rise from 2023, driven by ongoing cost-reduction programme

** CPI expects adj revenue to be broadly in line with 2024

** Co also expects small increase in adj operating margin, due to continued progress with efficiency programmes, partly offset by agreed exits from closed book Life & Pensions contracts

** Also expects group to be free cash flow positive before the impact of business exits from end of 2025

** Capita stock down ~36% in 2024

($1 = 0.78 pounds)

(Reporting by Rishab Shaju in Bengaluru)

((Rishab.shaju@thomsonreuters.com))

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