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Prices & Quotes - UK Markets - Capita (CPI)

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Share Price:
Down 50.00p
Change Today:
-0.90p
Market Cap:
834.49m
Sector:
Support Services

Capita swings to first-half loss

By Michele Maatouk

Date: Tuesday 18 Aug 2020

LONDON (ShareCast) - (Sharecast News) - Outsourcer Capita said on Tuesday that it swung to a loss in the first half as revenue took a significant hit from the coronavirus pandemic.
In the six months to the end of June, the company swung to a reported pre-tax loss of 28.5m from a profit of 31.2m in the first half of last year, with revenue down 9% to 1.65bn, mainly due to 2019 contract losses and the impact of the Covid-19 crisis.

Capita said it had been a "challenging" six months and that the impact of the pandemic had come "in a pivotal year" when it expected to see revenue growth. Profit was significantly affected, it said, and the delay in the return to growth means it will not generate sustainable cash flow for one to two years.

Based on expectations of a slow economic recovery throughout the next six months, the company said revenue in the second half is expected to be flat to slightly down on the first half.

Capita also said net debt is expected to return towards end of December 2019 levels, as some of the first-half benefits reverse in the second half of 2020.

Chief executive Jon Lewis said: "We expect to make further disposals which, alongside other measures, will strengthen the balance sheet and help build towards a more focused, sustainable Capita for the long term.

"These are unprecedented times and we need to adapt but our strategy remains the right one."

At 1020 BST, the shares were down 10.4% to 32.15p.

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Capita Market Data

Currency UK Pounds
Price 50.00p
Change Today -0.90p
52 Week High 183.00p
52 Week Low 23.72p
Volume 14,738,803
Shares Issued 1,668.97m
Market Cap 834.49m

Performance Indicators

Compare performance with the sector and the market.

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 3
Sell 0
Strong Sell 1
Total 6
buy
Broker recommendations should not be taken as investment advice, and are provided by the authorised brokers listed on this page.

Capita Dividends

  Latest Previous
  Interim Final
Ex-Div 19-Oct-17 25-May-17
Paid 30-Nov-17 03-Jul-17
Amount 11.10p 20.60p

Trades for 04-Dec-2020

Time Volume / Share Price
16:35 1,829,335 @ 50.00p
16:30 1,977 @ 50.07p
16:29 900 @ 50.06p
16:29 151 @ 50.05p
16:29 114 @ 49.97p

Capita Key Personnel

Chair Ian Powell
CEO Jonathan (Jon) Lewis