Capita Group defied its critics yet again this week and became the City darling, delivering a 5.35p dividend to shareholders. Its results reflected the continuing success of its public service contracts and the wonder that is the Congestion Charging Scheme. But in insurance it also reported its new Chester Street run-off contract beginning in mid-May, which should generate revenues of approximately £40m over the next 10 years.
Two existing relationships were renewed, one with the DWP for key office services until December 2006, the other with Norwich Union's Clubline, which has been extended for a further three years.
Who needs loss adjusting, eh?