Welcome to the Great Fire sale of old London town Paul Kunert Wed 17 Mar 2021 // 16:19 UTC Share Copy Corporate pantomime baddie Capita is again carving up its operations, creating specific divisions for private and public sector customers and a third that will house non-core businesses it wants to sell. The restructuring plan was outlined alongside financial results for calendar 2020 which, although in line with expectations, showed the extent to which the pandemic has decelerated Capita's multi-year turnaround efforts. Revenue crashed 10 per cent to $3.3bn from £3.67bn in fy'19, but pre-tax losses narrowed to £49.4m from £62.6m. In yet another twist for Capita - as part of CEO Jon Lewis's three-year blueprint to convert loss-making sales into something more sustainable - the company will create three units, including Capita Public Service (CPS), Capita Experience and "Portfolio". The latter will be an "enlarged portfolio of non-core businesses we intend to exit in due course; and a smaller overhead, generating additional long-term savings," said Lewis.