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Capita hopes for improved profitability in second half of 2017

Reuters - UK Focus

LONDON, June 13 (Reuters) - Britain's outsourcing group Capita (LSE: CPI.L - news) said it expected profitability to improve in the second half of 2017 after seeing signs of stronger trading in its European and IT Services businesses.

Capita, which announced the departure of its chief executive and a bigger than expected drop in profits in March, said it still expected 2017 to be a transitional year as it restructures the group.

While it is seeing improving profitability in its IT Services division and better trading in Germany and Switzerland, the firm said trading across its property, employee benefits and learning services operations was yet to improve. (Reporting by Kate Holton; editing by Costas Pitas)