Company
Capita PLC
LON:CPI
Capita is the UK’s leading business process outsourcing (BPO) and professional services company, offering back office administration and front office customer contact services to private and public sector organisations across the UK and Ireland.
231 stories · page 1 of 3
Capita completes disposal programme with Fera sale
Fera is a joint venture with the Department for Environment, Food & Rural Affairs
Capita confirms personal data stolen in cyber attack
It took nine days to realise it was under attack
FIVE at FIVE: M&A season ramps up; Capita attack worse than feared; FTSE 100 closes higher; Royal Mail CWU deal; May pub revival
Here’s Proactive’s round-up of the top financial stories of the day, with helpful links taking you directly to the news
Capita to reduce debt after tying up £156mln sale of payment service
Capita PLC has completed the sale of its Pay360 business for £156mln, hoping the proceeds will help reduce its debt
Capita sells payments business Pay360 in £150mln deal; extends Barnet Council contract
The Barnet Council contract extension could be worth up to £57mln
Capita takes disposals to £800mln with sale of two more businesses
Chief executive Jon Lewis said the group will continue its disposals of non-core businesses
Capita 'on track' for positive free cash flow this year
"The likelihood of dividend payments or other shareholder capital returns is minimal," reckons broker Shore Capital
FTSE 100 closes ahead as traders appear cautiously optimistic
Britain's blue-chip benchmark finished ahead by nearly 50 points, or 0.69%, at 7,258
Capita shares rise after it completes sales of its speciality insurance businesses
The proceeds, net of transaction costs, will be used to strengthen the balance sheet and reduce debt
Capita says David Lowden to succeed Sir Ian Powell as chairman
A new independent director is being sought to succeed Lowden
Capita swings into profit as revenue grows for first time in six years
The outsourcing firm expects revenue growth to continue in the current year
FTSE 100 closes down as Ukraine-Russia war rages amid ECB's interest rate decision
The ECB's decision to keep interest rates at 0% comes ahead of next week’s Federal Reserve meeting where the US central bank is expected to raise rates
Capita revenues flat after contract losses
Recovery from Covid by its businesses generally has also been slower than anticipated,
Capita offloads seventh non-core business in past 12 months
The speciality insurance units last year made a combined revenue of £26mln and profit before tax of £5mln
Capita confident of returning to top-line growth this year on the back of UK government contracts
"We have maintained revenue; increased profit; strengthened the balance sheet; and implemented our new, simpler, more client-focused divisional structure," said CEO, Jon Lewis
Capita upgraded by Barclays after Axelos disposal
If management can deliver, the upside is considerable, argues the bank
Capita sells UK government joint venture as disposals plan progresses
There had been an improving trend in the first half of the year
Capita inks multi-million contract extension with European telecoms firm
The outsourcing firm said the extension carries a price tag of up to £528mln and will begin in Janaury 2023
Capita extends Tesco Mobile contract
The outsourcer said it will deploy new AI-based speech analytic technology
Capita names Tim Weller as CFO as its transformation continues
Weller was CFO of recently acquired security company G4S PLC
Capita confirms £700mln disposal plan after further losses
Capita said its travel arm was hit hard by the pandemic
Archive
Fed in focus on Wednesday, Capita results in the corporate diary
The US central bank's commentary on the global economy will be eyed closely ahead of the Bank of England's own meeting on Thursday
Capita bags just £343mln from sale of Education Software business
Around £293mln of the proceeds will be used to strengthen the group's balance sheet
Capita in talks to sell education software business
The government contractor plans to use the proceeds to strengthen its balance sheet
Capita highlights earnings resilience as cost savings offset pandemic revenue hit
The outsourcing group also confirmed discussions are ongoing regarding the disposal of its Education Software Solutions business
Capita refutes media reports on CVC Capital Partners takeover proposal
The outsourcer said it did not receive an offer from the private equity giant
Remote working stocks to back if Boris Johnson fails with his back-to-the-office campaign
Large and small cap companies in various sectors have reported growing demand due to more people having to work from home during the pandemic
Capita expected to shut a third of its offices as remote working proves a success
“COVID-19 has accelerated the transformation of our working practices,” the outsourcer said in its recent results
Capita slides to losses after staff avoid taking holidays due to coronavirus
The outsourcer took a multi-million pound hit due to untaken staff holidays
Capita extends congestion charge, low emissions contracts with TFL for five years
The £355mln deal is to manage London’s Congestion Charge, Low Emission Zone and Ultra Low Emission Zone
Capita surges as it plans sale of education software business
Following a strategic review into the software division, the outsourcing firm said it plans to dispose of any standalone assets in the business that have little overlap or cross-sell potential
Capita inks contact centre contract with Irish Water
The outsourcing group will operate contact centre services, from Cork, over an initial five-year contract period.
Capita secures extension of £60mln contract for teachers’ pension scheme
The service covers collection of contributions and calculation of pension payments for 2mln members across England and Wales
Capita defends coronavirus response and scraps guidance issued three weeks ago
Training, resourcing, contact centres for retail and leisure clients, consulting and the corporate travel agency are likely to be hit hard
Capita still faces structural, strategic and competition challenges but "value is real"
Analysts at Shore Capital said “risk is high” but the outsourcer's genuine strategic value “deserves to be considered”
Capita crumbles as transformation "requires more investment than expected"
“Transforming an organisation of Capita’s size is a complex challenge; there remains more to do and it is requiring more investment than we had expected in 2018”
Capita supported by Deutsche Bank upgrade to ‘hold’ from ‘sell’ on valuation grounds
The German bank, however, trimmed its target price for the FTSE 250-listed firm to 150p from155p, with the stock just hovering above that level at 150.05p
Capita downgraded to ‘sell’ by UBS as analysts cast doubt on 2020 turnaround
The Swiss bank thinks 2020 will be "too early" for the outsourcer to return to organic growth, predicting instead a 2% decline for the year
Capita gets a pretty positive downgrade from JPMorgan
There is quite a difference of opinion on the outsourcing group in the Square Mile, with five ‘buys’, six ‘holds’ and two ‘sells’
Archive
Mondi is the top Footsie faller after gloomy outlook statement
A look at the day's major movers, including London Stock Exchange, Kier Group and Capita
Hardware & electrical equipment
K2fly advances resources-focused software-as-a-service model
The Australian company recently acquired South Africa’s RCubed as it adopts a software-as-a-service model for the energy, resources and natural resources space.
Neil Woodford's fall from grace: Where it went wrong for the famed stock-picker
Woodford has made some bad investment calls: Provident Financial, Capita, Circassia Pharmaceuticals and Allied Minds
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Investments and investor services
FTSE 100 closes higher and global stocks rally as trade fears seem to ease
On Wall Street, the Dow Jones Industrial Average is up 287 points at the time of writing
Archive
Jobs figures take macro spotlight on Tuesday while LandSec leads company reports
Analysts at RBC Capital Markets are expecting the UK jobless rate to remain below 5% for a third successive month
Archive
Burberry, Kingfisher, Thomas Cook and Aston Martin in focus in week ahead
The week ahead's highlights include updates from Burberry, Land Securities, British Land, Premier Foods, Experian, Kingfisher, Aston Martin, Dignity, Centrica, Thomas Cook, On the Beach and Countryside Properties.
Capita profits fall less than expected as the outsourcer undergoes major overhaul
Chief executive John Lewis said his transformation plan for Capita still has some way to go
Archive
FTSE 100 closes higher as no deal Brexit fears ease
Footsie closed around 26 points higher at 7,185, while FTSE 250 added around 103 points at 19,283
Archive
Thursday's Brexit fallout likely to overshadow Capita and Savills results
Brexit and the latest vote will likely be the main talking point, but there will be financial results too!
Archive
Shifting supermarket landscape the focus with first-half results from Morrison's
Aside from Morrison's, the Week Ahead will also bring updates from housebuilder Berkeley Group, insurer Prudential and fund manager Standard Life Aberdeen
Interserve moves to reassure investors as ex-shareholder claims it ‘could be next Carillion’
The “large”, unnamed ex-shareholder told the BBC that he wasn’t sure Interserve could survive much longer without a fresh injection of cash, which he doesn’t think will be forthcoming
Capita to handle Westminster's council tax collections for another seven years
The renewal comes with an option to extend for an additional three years and is worth £65mln in total.
Rank Group appoints former Experian executive Bill Floydd as CFO
Bill Floydd replaces Clive Jennings, who stepped down in August after seven years in the role
Hardware & electrical equipment
Capita picks talent management platform operator Adepto as a partner
Chris Milligan, the CEO and founder of Adepto, said the agreement with Capita would enable it to build on its successes to date
UK government awards Capita five-year contract extension worth £93mln
The outsourcing group has had its contract to manage the UK’s Gas Safe Register extended until 2024
Archive
Housebuilders to be in focus as Autumn kicks off with a welter of sector updates
Aside from the housebuilders, the week head will also see updates from advertising giant WPP, electricals retailer Dixons Carphone, and transport operator Go-Ahead Group
Capita poaches Go-Ahead Group finance chief to help oversee turnaround plans
Reports suggest Patrick Butcher will take a key role in restoring the fortunes of the group
Capita share price decline presents buying opportunity, says RBC
RBC repeated an ‘outperform’ rating on Capita and raised its target price to 210p from 200p
Jefferies upgrades Capita to ‘Buy’ as it sees potential in software division following cut in full-year guidance
The broker said that the FTSE 250 outsourcer’s software division had “attractive (free cash flow) characteristics…recently won a contract in India (and) can grow overseas”
Tekcapital shares edge higher as portfolio company names new chief executive
A look at some of the top risers and fallers in London today
Capita lowers profit guidance and warns turnaround plan will take time
Capita reported a 59% drop in underlying pre-tax profit to £80.5mln in the first half
Investments and investor services
FTSE 100 closes firmly lower as miners lag and attention turns to BoE rate decision
The Footsie closed Wednesday almost 96 points lower at 7,652.