LONDON, March 2British outsourcing group Capita
said its chief executive Andy Parker would step down
after the group reported a 19 percent fall in 2016 underlying
pre-tax profit, missing forecasts again.
After a string of profit warnings and doubts over its
strategic direction, Capita said it did not expect sustainable
profit growth before 2018.
Underlying profit before tax fell 19 pct to 475.3 million
pounds ($585 million) in 2016, missing the company's target for
at least 515 million pounds.
Capita said Parker would step down later this year.
($1 = 0.8145 pounds)
(Reporting by Elisabeth O'Leary; editing by Kate Holton)