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Capita PLC (CPI.L)

CPI.L on London Stock Exchange

132.90GBp
23 May 2018
Change (% chg)

2.30 (+1.76%)
Prev Close
130.60
Open
131.00
Day's High
133.95
Day's Low
131.00
Volume
8,078,639
Avg. Vol
12,629,770
52-wk High
439.66
52-wk Low
77.81

Latest Key Developments (Source: Significant Developments)

Capita Says Not To Pay Final Dividend, To Raise Equity Via Rights Issue This Year
Wednesday, 31 Jan 2018 

Jan 31 (Reuters) - Capita Plc ::‍UPDATE ON CAPITA'S TRANSFORMATION AND OUTLOOK​.‍NON-CORE DISPOSAL PROGRAMME OVER NEXT TWO YEARS​.‍DIVIDEND SUSPENDED UNTIL COMPANY GENERATING SUSTAINABLE FREE CASH FLOW​.‍2017 TRADING IN LINE WITH OUR EXPECTATIONS​.‍NON-CORE DISPOSAL PROGRAMME OVER NEXT TWO YEARS​.‍2018 UNDERLYING PRE-TAX PROFITS, BEFORE SIGNIFICANT NEW CONTRACTS AND RESTRUCTURING COSTS, EXPECTED TO BE BETWEEN £270M AND £300M.​.‍COMMENCED A MULTI-YEAR TRANSFORMATION PROGRAMME AND IS COMMITTED TO DELIVERING A STRATEGIC REVIEW OF GROUP DURING 2018​.‍"WE HAVE ALSO TAKEN SIGNIFICANT DECISION TO SUSPEND DIVIDEND AND SEEK EQUITY" - CEO​.‍DEVELOPING A MULTI-YEAR STRATEGY, OUTCOME OF WHICH IS EXPECTED TO BE ANNOUNCED LATER IN YEAR​.‍"COST SAVINGS AND NON-CORE DISPOSALS ALONE WILL NOT BE ENOUGH" -CEO​.‍IDENTIFIED SMALL NO OF BUSINESSES CONSIDERED NON-CORE TO GROUP, INCLUDING PARKINGEYE, CONSTRUCTIONLINE.INTENDS TO USE PROCEEDS FROM DISPOSALS TO REDUCE INDEBTEDNESS IN SHORT TERM AND TO INVEST IN REMAINING CORE AREAS OF GROUP OVER TIME​.ENTERED INTO A STANDBY UNDERWRITING AGREEMENT FOR UP TO £700M WITH CITI GLOBAL MARKETS LIMITED AND GOLDMAN SACHS INTERNATIONAL​.‍APPROPRIATE LEVERAGE FOR CAPITA OVER MEDIUM TERM SHOULD BE BETWEEN 1.0 AND 2.0 TIMES NET DEBT TO EBITDA​.‍EXPECT A FREE CASH OUTFLOW THIS YEAR​.‍CURRENTLY UNDERTAKING A TRIENNIAL REVIEW OF PENSION SCHEME​.  Full Article

Top Capita investor Woodford maintains its exposure
Friday, 19 Jan 2018 

Jan 19 (Reuters) - Capita ::TOP INVESTOR WOODFORD SAYS MAINTAINS EXPOSURE TO STOCK.INVESTOR WOODFORD SAYS DIVIDEND CUT CANNOT COMPLETELY BE RULED OUT, SAYS EXPECTS CLEARER LONG-TERM STRATEGY FOR BUSINESS.  Full Article

Capita Says ‍Marks & Spencer Extends Partnership With Capita
Thursday, 18 Jan 2018 

Jan 18 (Reuters) - Capita Plc ::‍MARKS & SPENCER EXTENDS CUSTOMER CONTACT PARTNERSHIP WITH CAPITA BY FIVE YEARS​.‍EXTENDED ITS DIGITAL CUSTOMER CONTACT PARTNERSHIP WITH CAPITA BY A FURTHER FIVE YEARS​.‍CAPITA WILL ALSO EXTEND ITS CUSTOMER SERVICES SUPPORT TO M&S'S INTERNATIONAL ONLINE BUSINESS IN MARKETS LIKE US, AUSTRALIA AND FRANCE​.  Full Article

Capita Says Prudential's Life, Pensions Business Administration To be Transferred From Capita
Tuesday, 16 Jan 2018 

Jan 16 (Reuters) - Capita Plc ::PRUDENTIAL SAID ADMINISTRATION OF ITS LIFE AND PENSIONS BUSINESS TO BE TRANSFERRED FROM CAPITA TO NEW SUPPLIER ON JULY 31.PRUDENTIAL'S LIFE AND PENSIONS OPERATIONS EXPECTED TO CONTRIBUTE REVENUE OF ABOUT 80 MILLION STG TO CAPITA IN FY 2017.‍CAPITA WILL CONTINUE TO ADMINISTER PRUDENTIAL'S INTERNATIONAL OPERATIONS​.  Full Article

Capita's Life, Pensions Business Administration To be Transferred From Capita
Tuesday, 16 Jan 2018 

Jan 16 (Reuters) - Capita Plc ::‍ANNOUNCED THAT ADMINISTRATION OF ITS LIFE AND PENSIONS BUSINESS WILL BE TRANSFERRING FROM CAPITA TO A NEW SUPPLIER ON 31ST JULY 2018​.‍CAPITA WILL CONTINUE TO ADMINISTER PRUDENTIAL'S INTERNATIONAL OPERATIONS​.LIFE AND PENSIONS OPERATIONS ARE EXPECTED TO CONTRIBUTE REVENUE OF AROUND £80M TO CAPITA IN FULL YEAR TO DECEMBER 2017..  Full Article

Capita Signs Contract With Tfl
Thursday, 21 Dec 2017 

Dec 21 (Reuters) - Capita Plc ::PRESS RELEASE REG-CAPITA PLC: TRANSPORT FOR LONDON CONTRACT AWARD.SAYS HAS SIGNED CONTRACT WITH TFL FOR PROVISION AND ONGOING MANAGEMENT OF ITS ACCESS AND WIDE AREA NETWORK SERVICES ACROSS ALL TFL SITES.‍EXPECTED TO DELIVER SIGNIFICANT SAVINGS OF AT LEAST £33M TO TFL THROUGH EFFICIENCIES AND MODERNISATION OF EQUIPMENT​.SAYS INITIAL CONTRACT IS VALUED AT APPROXIMATELY £80M WITH AN OPTION TO EXTEND FOR UP TO FIVE FURTHER YEARS.  Full Article

UK's FCA says Capita Financial publicly censured and fined 66 mln stg
Friday, 10 Nov 2017 

Nov 10 (Reuters) - UK's Financial Conduct Authority :UK'S FCA- CAPITA FINANCIAL HAS BEEN PUBLICLY CENSURED AND WILL PAY UP TO 66 MILLION STG TO INVESTORS WHO SUFFERED LOSS FROM GUARANTEED LOW RISK INCOME FUND.  Full Article

Capita Plc completes disposal of Capita Asset Services
Friday, 3 Nov 2017 

Nov 3 (Reuters) - CAPITA PLC :COMPLETION OF DISPOSAL OF CAPITA ASSET SERVICES.‍CAPITA CONFIRMS COMPLETION OF SALE OF CAS FOR A CASH FREE, DEBT FREE CONSIDERATION OF £888 MILLION​.  Full Article

Union Unite says Capita staff start strike over pensions​
Monday, 30 Oct 2017 

Oct 30 (Reuters) - Capita Plc :UNITE- ‍CAPITA STAFF START STRIKE ACTION OVER PENSIONS​.UNION UNITE - FOLLOWING BREAKDOWN OF TALKS AT ACAS STAFF ARE TAKING PART IN NINE DAYS OF INDUSTRIAL ACTION​.UNITE- ‍DISPUTE CENTRES ON CAPITA'S ATTEMPTS TO CLOSE CURRENT DEFINED BENEFIT SCHEME AND TRANSFER STAFF TO A DEFINED CONTRIBUTION SCHEME​.UNITE- STRIKE ‍STARTED ON SATURDAY 28 OCTOBER 2017, ENDING ON SUNDAY 5 NOVEMBER​.  Full Article

Link Administration says received regulatory approvals for acquisition
Monday, 23 Oct 2017 

Oct 23 (Reuters) - Link Administration Holdings Ltd ::Received regulatory approvals for acquisition of Capita Asset Services; ​expects to complete acquisition on Nov 3, 2017.  Full Article

UPDATE 3-UK's Capita raises cash as aims to put problems in past

* Will raise 700 mln pounds for restructuring and balance sheet