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Capita: We're creating a 'Portfolio' division to house all the stuff we don't want


Welcome to the Great Fire sale of old London town
Paul Kunert
Wed 17 Mar 2021 // 16:19 UTC
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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 ....

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Capita's revenue slides 10% in 2020 due to COVID-19 restrictions.


The outsourcing firm wants to offload more of its non-core businesses.
Capita shares were about 3% up in premarket trading on Wednesday.
Capita plc (LON: CPI) announced a restructuring plan on Wednesday that will affect two of its divisions. The company wants to offload more of its non-core businesses as losses expanded further in 2020 due to the ongoing Coronavirus pandemic.
Capita shares that you can learn to buy online here were reported about 3% up in premarket trading and gained another 3% on market open. The stock, however, lost the majority of its intraday gain in the later hours to trade at 46 pence per share. Capita had started the year at 39 pence per share. ....

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TOP NEWS: Capita Confirms Possible Sale Of AXELOS Joint Venture


TOP NEWS: Capita Confirms Possible Sale Of AXELOS Joint Venture
Tue, 16th Feb 2021 17:31
(Alliance News) - Capita PLC on Tuesday confirmed it and the UK Cabinet Officer are considering a possible sale of their AXELOS Ltd joint venture as part of a review.
This announcement followed media speculation , Capita said, as it explained that it and the Cabinet Office are exploring strategic options for AXELOS, including is possible sale.
London-headquartered outsourcer Capita stressed that there cannot be any certainty that the review will conclude in a transaction involving AXELOS.
AXELOS is 51% owned by Capita and 49% by the UK Cabinet Office. It is responsible for developing, enhancing and promoting a number of best practice methodologies used by professionals working primarily in project, programme and portfolio management, IT service management and cyber resilience. ....

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