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British outsourcing group Capita cuts profit outlook

Reuters - UK Focus

LONDON, Sept 29 (Reuters) - British outsourcing group Capita (Taiwan OTC: T1614Y.TWO - news) cut its full-year profit outlook by as much as 13 percent on Thursday after clients delayed making decisions on projects.

Capita (LSE: CPI.L - news) , which employs 75,000 staff across the UK, Europe, South Africa and India, said its performance in the second-half of the year had been below expectations. It had previously said that clients were taking longer to sign off on projects after Britain vote to leave the European Union.

It now expects underlying profit before tax to be in the range of 535 million pounds to 555 million pounds for the year to December 2016, compared to a consensus forecast of 614 million pounds ($800 million). ($1 = 0.7682 pounds) (Reporting by Kate Holton)