Capita have posted a 14 per cent annual profit rise after a year of strong sales.

Outsourcing giant Capita recorded £588 million in revenue from new contracts in 2014 having succeeded in avoiding the negative stories that have affected G4S and Serco.

The company posted an annual pre-tax profit rise of 14 per cent at 475 million, with 8 per cent revenue growth for 2013, meeting predictions for the year.

The markets saw a five per cent rise after the announcement from the company as shareholders capitalised on strong results.

Capita CEO Paul Pindar said: "2013 was a year of strong sales, operational and financial performance. We accelerated our organic growth, sustained good cash generation and are reporting record underlying profits for the 25th successive year.” He added that the published results provide “a strong platform for further growth in 2014”.