Better positioned for growth
Capita is two years into a multi-year transformation to become a truly progressive, purpose-led, responsible business. Over that period, we have made significant progress, laying the foundations for a more focused, predictable and sustainable business.
We have continued to work hard to deliver on the commitments of our strategy – to simplify, strengthen and succeed. But there is more to do to achieve our goals and, while we are convinced that the plan remains the right one, we have not had everything work in our favour.
We started to rebuild the organisation in 2018, reorganising our divisions and creating robust, accountable and centralised functions which define how we do things company-wide. We defined our purpose and launched an operating model. We deleveraged our balance sheet and agreed a pension deficit reduction plan.
In 2019, we continued to simplify and strengthen the organisation, fix legacy issues, invest in our people, rebuild trust with clients, cut cost, improve controls and reduce risk. We invested significantly in our growth capability and the organisation’s products and services, particularly in consulting, digital services and software. This will allow us to stimulate, and maximise, future higher margin growth opportunities in areas where Capita has a competitive advantage and where we can offer cross-sell opportunities within the Group.