UK companies are struggling to keep up with peers on growth Markets UK companies are failing to keep up with international peers on sustained growth, data from Panmure Liberum has revealed. While practically all companies manage to create strong growth on occasional years, few companies have managed to keep growth going every year, noted Joachim Klement, investment strategist at Panmure Liberum. The longest streak on record for [...]
Capita swings back into the black as it ploughs ahead with £160m of cost cuts Business Capita has swung back into the black as it ploughs ahead with a cost-cutting programme it says will save the company £160m.
Capita shares crater 22 per cent as outsourcing giant swings to £107m loss Outsourcing Capita's share price closed 22 per cent lower on Wednesday after the outsourcing giant reported a huge loss and announced that it would be ramping up its cost-cutting programme.
Labour’s plans for workers’ rights must ‘strike balance’, experts warn February 8, 2024 Labour’s plans to beef up workers’ rights must “strike a balance” between the needs of firms and staff, bosses and experts have told CityA.M.
Capita shares sink after RBC downgrades over cash flow concerns January 10, 2024 Shares in outsourcing giant Capita fell over eight per cent on Wednesday morning after RBC Capital Markets cut its rating on the stock to ‘sector perform’ from ‘outperform’.
Capita appears to be turning a corner after a year of debt, cyber attacks, job cuts and sell-offs December 14, 2023 It said there revenue growth of 2.1 per cent this year, and a boost in its total contract value to £2.89bn, an increase of 47 per cent on last year. It attributed this to a “significant improvement in win rate”.
The debt pile at Capita is coming down after a mass sell-off. But is it out of the woods? December 8, 2023 Capita has completed its plan to sell off all of its non-core businesses to work down its debt. But has it done enough to please investors?
Capita prepares to cut 900 jobs to bring down costs November 21, 2023 Outsourcing firm Capita has kicked off a programme that is set to make approximately 900 roles at risk of redundancy as the company tries to cost save. The company’s aim is to double its operating margin to six per cent but in order to do this it needs to cost save £40m per annum on [...]
Capita shares plummet 11 per cent as contractor reveals cyber attack cost £25m August 4, 2023 Capita shares slumped 11.4 per cent on Friday morning after it said a recent data breach could cost it up to £25m. The government contractor, which provides data and IT outsourcing processes, said this morning it expects a major cyber attack in March could cost it £20-25m, as an investigation nears its close. This figure is [...]
Capita picks Amazon exec to lead outsourcing giant July 31, 2023 London-listed outsourcing firm Capita is undergoing a change of leadership as CEO Jon Lewis steps down, passing the baton to Adolfo Hernandez. After over five years at the helm, Lewis is retiring as chief executive and board director, leaving the company in the hands of Hernandez, a seasoned tech expert with 30 years of experience, [...]