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
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.
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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