The next Carillion? Shares in outsourcing firm Capita plunge 30% after profit warning
|01/31/2018||Posted by BusinessMediaguide.Com under General World News||
- Shares in outsourcing firm Capita plunge 30% on Wednesday morning.
- Fall comes after the FTSE 250-listed firm issued a profit warning, announced plans for a rights issue, and suspended its dividend in a single announcement.
- “Today, Capita is too complex, it is driven by a short-term focus and lacks operational discipline and financial flexibility,” the firm’s CEO Jonathan Lewis said in a surprisingly frank statement.
- Capita, like Carillion, which collapsed earlier in January, has numerous government contracts.
LONDON — Capita, an outsourcing firm with a substantial involvement in government contracts, has seen its shares plunge almost 30% on Wednesday morning after the FTSE 250-listed read more >>>