Outsourcing giant Capita suffers loss after Brexit related profit alert

Government jobs supplier Capita
Government recruitment industry affected by Brexit

Main UK Central Government recruitment partner Capita states “delays in client decision-making” as one of the reasons for a poor performance in the second half of the year that forces the group to take actions and cut costs in its underperforming operations.

 

The slowdown affected IT and Recruitment divisions the most.

 

Shares in outsourcing giant Capita have tumbled by more than 30% after it published a profit warning partly linked to the Brexit vote, although lately there has been some evidence for recovery in group’s market value.

 

Capita also faces one-off costs of up to £25m related to delays on new IT systems under a Transport for London congestion-charging contract.

 

In addition it said it was in a contractual dispute with the Co-op Bank which it said posed a "risk of litigation".

 

Capita employs around 75,000 people, including 58,500 in the UK.

 

The group said it now forecasts full-year profits of £535m to £555m compared to a previous market expectation of £614m, however, this figure could be lower after including the cost of a potential restructuring.

 

Browse our Uk Central government jobs here.

 

Sources: 

news.sky.com 

Please rate

Comments 

Ctrl + Enter

Most Read

Ten highest paying I.T jobs in 2019

Ten highest paying I.T jobs in 2019

The I.T industry is arguably the most in-demand industry for technology/Engineering professionals. Once you have the right skill and certification, the I.T industry will jump at the chance to employ you and grant you a befitting role. From application developers to Data Engineers, the sector is in

H2S: It’s an exciting time to be a civil engineer

H2S: It’s an exciting time to be a civil engineer

The High Speed Two (H2S) has been described as a game-changer and the greatest ever upgrade to Britain's railways, and without doubt, this United Kingdom’s high-speed rail project has been a hot topic. The H2S project aims to meet the United Kingdom’s high

The future of engineering in Artificial Intelligence

The future of engineering in Artificial Intelligence

Artificial intelligence (AI) is an aspect of computer science that is concerned with machine intelligence. Machine intelligence can be described as the theory and development of computer systems to have the capacity to carry out tasks that would ordinarily require human input or intelligence. Some

This website uses cookies to enhance your user experience. By continuing to use this site, you consent to our use of these cookies. See our Cookie Policy.