Unsupported browser

For a better experience please update your browser to its latest version.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Capita Percy Thomas owner reveals 'disappointing' six months

  • Comment
Capita Symonds, the owner of Capita Percy Thomas, has admitted that its margins suffered in the first six months of the year

The firm, which is run by FTSE 100 company Capita, has blamed the decision to pull out of a major scheme in the Middle East for the downturn.

In annual results released yesterday, the firm revealed that while Capita itself has done well, the architectural and engineering division was disappointing.

Capita Symonds has in recent years become known as one of the most acquisitive firms in architecture, having swallowed the likes of Percy Thomas and Ruddle Wilkinson.

But the latest results will come as a blow. 'For a combination of reasons, we took the decision to withdraw from our Dubai Rapid Link contract and we have provided in full for the costs of our early exit,' the results report says.

'Consequently, margins for Capita Symonds are lower than last year, but are anticipated to recover in the second half of the year,' it added.

Capita non-executive chairman Rodney Aldridge agreed that the future was bright.

'There is good visibility of Capita's financial performance for 2006 and the board believes shareholders will be very pleased with the results for the year as a whole,' he said.

'Our businesses are in superb shape to deliver incremental growth, he added. 'The board therefore anticipates delivering strong growth in 2007.'

by Ed Dorrell

  • Comment

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions.

Links may be included in your comments but HTML is not permitted.