Capita Independent

 

Extracts from an article by Ben Chu, economics editor for The Independent.

“Can it be turned around? And should we expect other outsourcing firms to follow it into trouble?

The contractor Capita on Wednesday issued a profits warning, cancelled its dividend and said it would request up to £700m in extra funds from investors.

The share price plunged by 47.5 per cent in response.” […]

“Work by the research group Tussell suggests that the firm won contracts from 226 different public sector buyers over the last two years alone, with around half of these coming from local governments.”

Read the full article on The Independent website.

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