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Markets News

Capita posts first-half loss after 'significant' coronavirus hit

Aug 18 (Reuters) - British outsourcer Capita Plc posted a 28.5 million pound ($37.44 million) loss for the first half of 2020 on Tuesday, as revenue took a hit due to the coronavirus crisis and said it would not generate sustainable cash flow for up to 2 years.

The company said it expected second-half revenue to be flat to slightly down from the first half. The reported pre-tax loss for the six months ended June 30 compared with a profit of 31.2 million pounds a year earlier.

Net debt came in at 1.1 billion pounds as at June 30.

$1 = 0.7612 pounds Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich

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