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Capita shares fall to two-year low on smaller bid pipeline

Reuters - UK Focus

(Corrects to two years from six months in headline, first paragraph and third paragraph)

By Li-mei Hoang

LONDON, Feb 25 (Reuters) - Shares (Berlin: DI6.BE - news) in Capita (LSE: CPI.L - news) fell to their lowest level in two years after the British outsourcing group posted a lower estimate of new work it was bidding for in the coming year.

Capita, which runs services from the Ministry of Defence pension scheme to police radio systems, said on Thursday its bid pipeline had fallen to 4.7 billion pounds ($6.6 billion) from 5.1 billion last year.

Shares in the company reversed an early rise to be down more than 6 percent at their lowest level in two years, making them the biggest faller on the FTSE 100 index. (Editing by David Holmes)