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(Sharecast News) - Outsourcer Capita has been awarded a five-year, €10m contract by Irish Water for the transformation and operation of its customer contact centre services.
There is also potential for a two-year extension, worth an additional €17m over years six and seven.
Capita said it will transform customer management support services for Irish Water's customers with a range of new software and digital capabilities.
Aimie Chapple, executive officer for Customer Management, said: "We are delighted to be working with Irish Water and to have the opportunity to build on our record of delivering highly efficient, technology-enabled customer support services, while at the same time providing greater value for money.
"This contract award is testament to the strength of Capita's pan-European platform. Capita benefits from having a proven management team in Ireland, focused on delivery in the local market, complemented by the transformation and technical capabilities of the wider company."
At 0815 BST, the shares were up 7% at 43.68p.
Shore Capital analyst Robin Speakman said: "The contract awards and operating environment has been tough for the year thus far for all outsourcers, but not least for Capita in IT with the challenges of its ongoing transformation, a strained balance sheet and competition, so this win is then welcome news, signalling some confidence in the market and Capita's position from a client perspective.
"That said, we still believe that Capita is facing stiff challenges at present with it difficult to conclude business disposals in particular. The environment, now moving off into a potential recession and still 'Brexit', is set to remain difficult for perhaps at least the next year or so."
9 Nov 2023 12:28
IN BRIEF: Capita confirms new CEO's start date in the new year
Capita PLC - London-based consulting, transformation and digital services business - Confirms that Adolfo Hernandez will be appointed as chief executive officer on January 17, when incumbent CEO Jon Lewis will also step down from the board. The company announced at the end of July that Hernandez, vice president of Global Telecommunications at Amazon Web Services, will succeed the retiring Lewis. As also previously announced, Capita confirms Lewis will remain with the business until July to ensure an orderly transition.
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