Shares per capita to plunge, as it shows 60pc slide in profits

  • Shares per capita to plunge, as it shows 60pc slide in profits
    Independent.t. E.
    Shares in capita fell by more than 6PC yesterday after it reported a 60pc fall in first half pre-tax profits, underlining the huge task facing the New CEO of British outsourcing firm John Lewis.
    https://www.independent.ie/business/world/capita-shares-plunge-as-it-reveals-60pc-slide-in-profits-37176084.html
    https://www.independent.ie/business/article37176982.ece/e77b6/AUTOCROP/h342/2018-04-24_bus_40354019_I1.JPG

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Shares in capita fell by more than 6PC yesterday after it reported a 60pc fall in first half pre-tax profits, underlining the huge task facing the New CEO of British outsourcing firm John Lewis.

With IT solutions for business services for the public and private sectors, ranging from the management of the congestion charge in London payment of the national health practice of the public service has suffered from the decline in British business and tightening corporate budgeting. “Customers are very thoughtful about their investment decisions and the sales cycle takes a little longer,” Lewis, who is trying to simplify the cumbersome structure of the population, told Reuters in a telephone interview after the results.

Also per capita, which raised £700m from investors earlier this year, said the 2018 underlying pre-tax profits will now be between £250-275m (€281-309 m), less than £270-300m it was predicted earlier this year.

It reflects adjustments for the sale of the business, which contributed some £ 25 million, said per capita.

Shares in the calculation of per capita fell by 6.6 PC 151 pence at 08.56 GMT. They had gained since April, but still down 65pc year-on-year.

Per capita reiterated his long-term prognosis for a return to growth in 2020 after reporting a 60pc drop in profit before tax in the first half to £80.5 m. It also predicts organic growth will be weaker in the second half of 2018.

Lewis said that the profit was partly undermined the long-awaited investment in new technologies, although he was “enthusiastic” reception of client progress per capita and about 1 billion pounds of new orders in the first half. Order per capita amounted to £7.7 billion in June 2018, compared with £8.2 billion at the end of 2017.

Reuters

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