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Capita said revenue rose by 0.6% in in the 11 months to 30 November 2021, as contract losses its Capita experience business dented growth.
Group revenue for the 11 months to 30 November 2021 increased by 0.6% to £2.88 billion.
Capita public service grew by 11% to £1,292 million, but Capita experience revenue declined by 8% to £1,083 million, reflecting 'previously announced contract losses mainly as a result of client corporate actions, as well as ongoing revenue attrition in the closed book Life & Pensions segment,' the company said.
The non-core businesses, held in the Capita portfolio division, had grown revenue by 0.4% to £507 million.
For 2021 net debt was expected to be broadly flat vs half year, as previously guided, the company said.
Looking ahead, the company said it expected to generate free cash flow in 2022.
'We have continued to deliver cost savings in the last year of the transformation programme, improving our profitability this year, as well as further efficiencies from our new organisational structure (including the £50m of savings targeted for 2022), which we expect to continue into the future,' the company said.
'These will help to partially offset certain inflationary pressures that we expect to impact the business in 2022 as a result of the current macro environment and challenged labour market.'