Prices & Quotes - UK Markets - Capita (CPI)

LONDON (ShareCast) - (Sharecast News) - Outsourcer Capita said on Friday that it has been selected as the winning bidder to provide training services to the Royal Navy and the Royal Marines.
The contract will be worth around £1bn over 12 years, with opportunities to deliver further training according to the Royal Navy's requirements. It will see Capita transform and modernise the Royal Navy's shore-based training across 16 sites in the UK as the lead partner in a consortium, which bid as Fisher Training.

Capita is partnering in the consortium with Raytheon UK, Elbit Systems UK, and Fujitsu, as well as with several smaller British suppliers.

The contract is expected to be profitable in its first full year in 2021.

Chief executive officer Jon Lewis said: "We are delighted that the Royal Navy has selected us as the winning bidder following this highly competitive process, as we grow our capability in the defence training market.

"The award is a measure of the confidence and trust the Royal Navy and the Ministry of Defence have in Capita's expertise in the transformation and digitally enabled delivery of critical defence services. It also reflects the strong relationship Capita has with the Government as a strategic supplier."