Capita PLC (LSE:CPI) shares rose 6% in early trading on Thursday after the outsourcing group announced a £92.4 million contract extension with Southern Water.
The deal, secured by Capita’s Contact Centre division, will run for five years from July 2026, with an initial three-year term worth £56.3 million and an optional two-year extension worth £36.1 million.
Under the agreement, Capita will continue to handle a broad range of customer services for the utility, including voice calls, social media responses, complaints and billing support. It will also manage early-stage collections and back-office tasks from several UK sites.
The stock rose 0.7p to 12.36p.