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Prices & Quotes - UK Markets - Capita (CPI)

Risk Warning The value of investments can fall as well as rise and any income from them is not guaranteed and you may get back less than you invested. Past performance is not a guide to future performance.

Share Price:
Up 45.11p
Change Today:
1.51p
Market Cap:
759.78m
Sector:
Support Services

Capita sells SSS business to NEC Software for 62m

By Josh White

Date: Friday 01 Oct 2021

LONDON (ShareCast) - (Sharecast News) - Capita has agreed to sell its Secure Solutions and Services (SSS) business to NEC Software Solutions UK, it announced on Friday, for 62m on a cash-free, debt-free basis.
The FTSE 250 outsourcing giant described SSS as a provider of software solutions and managed services to the emergency services and justice sectors.

Earlier in the year, Capita announced its intention to sell a number of non-core businesses in a bid to strengthen its balance sheet and address upcoming maturities.

It said it was making "good progress" towards its target of 700m of proceeds from disposals in 2021, and the first half of 2022.

Adding the expected proceeds from the disposal to the amount Capita had already raised would bring the total proceeds this far to around 600m.

The sale remained subject to relevant approvals, including from customers and regulators.

Capita said revenue and the reported profit before tax for the SSS business for the year ended 31 December were 72m and 10m, respectively, and its gross assets were 63m as at 30 June.

Those figures also included a radio managed service contract that is included in the sale, and is due to terminate at the end of 2022.

The normalised revenue and EBITDA of the ongoing SSS business was about 58m and 8m per annum, respectively.

Capita said the senior management team and employees of SSS would be transferring with the business.

"We are pleased to have agreed the sale of our Secure Solutions and Services business to NEC Software Solutions UK following a competitive sale process," said Capita chief executive officer Jon Lewis.

"We announced our intention to sell SSS earlier this year as part of our ongoing strategy to simplify and strengthen Capita.

"The disposal is another step towards a more focused and sustainable business for the long term."

At 0818 BST, shares in Capita were down 1.14% at 50.38p.

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

Capita Market Data

Currency UK Pounds
Price 45.11p
Change Today 1.51p
52 Week High 52.80p
52 Week Low 32.24p
Volume 6,612,246
Shares Issued 1,684.27m
Market Cap 759.78m
Beta 1.23

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What The Brokers Say

Strong Buy 2
Buy 0
Neutral 1
Sell 0
Strong Sell 0
Total 3
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 29-Nov-2021

Time Volume / Share Price
16:46 149,217 @ 45.11p
16:35 1,291,047 @ 45.11p
16:29 3,525 @ 45.31p
16:29 1,956 @ 45.28p
16:29 365 @ 45.19p

Capita Key Personnel

Chair Ian Powell
CEO Jonathan (Jon) Lewis
CFO Tim Weller