|Bid||0.00 x 1189900|
|Ask||120.00 x 165000|
|Day's range||115.80 - 117.30|
|52-week range||104.50 - 151.10|
|PE ratio (TTM)||-18.98|
|Dividend & yield||0.00 (0.00%)|
|1y target est||132.06|
Oct (Shenzhen: 000069.SZ - news) 10 (Reuters) - Capita has picked turnaround specialist Jonathan Lewis as its new chief executive, with a remit to overhaul the British outsourcing firm after a string of profit warnings. Lewis, who ran oil services company Amec Foster Wheeler (Other OTC: AMCBF - news) for more than a year, has also held senior roles at U.S.-based oilfield services provider Halliburton Co, including running a software division. Capita offers IT-based services to public and private sector companies so they can cut costs, but has been hit by delays in spending decisions after Britain's vote to leave the European Union and struggling to manage a diverse spread of activities.
Shares in Capita slumped 13 percent on Thursday after the British outsourcer reported weak first-half results, a murky outlook and no progress in its hunt for a chief executive. Capita, which provides IT-based services for companies looking to cut costs, has issued a series of profit warnings following a slowdown in client decision-making after Brexit and problems with badly-run contracts. Shares in Capita, one of Britain's biggest employers with more than 70,000 staff, have now fallen 42 percent over the past 12 months.
After the maelstrom of Prime Minister Theresa May's election crisis and a struggle in government over the shape of Brexit, business chiefs have a simple request for Britain: Give clarity on how the EU divorce might look. Since May nearly lost her job in a botched June 8 election gamble, ministers have sought to strike a more inclusive tone, even inviting in some chief executives to a 17th century manor house to discuss Brexit over a buffet lunch.
** Serco +3% & 3rd top FTSE midcap riser after posting better-than-expected outlook for its bid pipeline against unpredictability in several end markets ** Reassuringly dull figures but book to bill at ...
British outsourcing group Serco said a better-than-expected outlook for its bid pipeline kept it on track to meet profit and revenue guidance this year despite several of its markets turning markedly more unpredictable. Serco, which runs transport, health, justice, defence and security services for public departments and gets half of its revenues from the UK, reported flat first half revenue of 1.5 billion pounds ($2.0 billion), with the weakness of the pound helping to offset the decline.
Competition is heating up for a $1.6 billion deal to provide air combat training for Britain's military as arms firms look for stable revenues amid scarce demand for their hardware, despite an uptick in defence spending, industry sources said. In a re-run of a recent duel over helicopter training, Italy's Leonardo and Europe's Airbus are both preparing to enter the race to replace a mixture of private and military training for UK forces from 2020, the sources said. Leonardo is considering an offer to supply its Aermacchi M-346 trainer for the competition known as 'Air Support to Defence Operational Training (ASDOT)' together with an unidentified British contractor.
Serco Group Plc (Other OTC: SCGPY - news) has won a contract worth about A$2.6 billion ($1.98 billion) to operate what will be Australia's largest correctional facility, the British outsourcing company said on Tuesday. Winning the contract is a major boost for Serco, which has been restructuring after a string of profit warnings. Serco is part of the NorthernPathways consortium which will design, build and operate the New Grafton Correctional Centre (NGCC) in New South Wales in a Public Private Partnership for the New South Wales government.
** British outsourcing group Capita +4.6 pct after Jefferies upgrades to "buy" vs "hold" ** Analysts point to evidence of "considerable change" since Sept under its new chairman. ...
British outsourcing firm Mitie expects to return to modest growth in underlying profit this year, citing new contracts and cost cuts after it axed its final dividend at the end of a troubled period. The provider of pest control, cleaning, security and healthcare services reviewed its strategy and accounts after three profit warnings in a year, blaming uncertainty surrounding Brexit and rising costs. Chief Executive Phil Bentley, who took charge in December as part of a management overhaul, said Mitie's labour costs had hurt its competitiveness.
Serco Plc has been named preferred bidder for a 20-year contract worth about A$2.6 billion ($2 billion) to operate what will be Australia's largest correctional facility, the British outsourcing firm said on Thursday. Winning preferred bidder status on the deal is a major boost for Serco, which has been restructuring after a string of profit warnings. The company said it will operate the new Grafton correctional centre in New South Wales beginning 2020 pending the completion of construction and final contract negotiations.
Rail workers in northern England joined London colleagues in strike action on Monday as a dispute over staffing levels on trains deepened, causing travel disruption in some of England's biggest cities. Workers on Southern Rail, a busy London commuter line, took their thirtieth day of industrial action in nearly a year. The RMT union is dispute with the operator, Govia Thameslink Railway, owned by Go-Ahead Group plc, over who should open train doors at stations.
Shares (Berlin: DI6.BE - news) in G4S (Copenhagen: G4S.CO - news) hit a 20-month high on Wednesday after the global security provider posted a 13.9 percent jump in full-year profit, underlining its recovery from a series of scandals at a time when rivals are still struggling. G4S, which operates in more than 100 countries and employs more than 600,000 people, has been selling businesses to pay off debt and working to limit losses from British government contracts that include providing asylum-seekers with accommodation. Pre (Shanghai: 600048.SS - news) -tax profit rose to 352 million pounds ($428.2 million) from 309 million.
The unexpected departure of the boss of Capita highlights the challenges facing Britain's biggest outsourcing companies as the government tightens the screw on businesses that provide vital public services. Capita Chief Executive Andy Parker announced his resignation on Thursday after the business support services group reported a bigger than expected drop in 2016 profit, capping a 12-month period in which its share price has plunged by 50 percent. Parker's decision to step down later this year comes after rival Mitie issued three profit warnings in four months and appointed a new CEO and CFO, having lost a quarter of its market value over the last year.
Shares (Berlin: DI6.BE - news) in Serco slumped on Wednesday after results from the British outsourcing group showed it may be tough to boost sales in an uncertain political climate and that the company's recovery could take longer than some analysts expected. Serco, which provides transport, health, justice, defence and security services in public departments and gets half of its revenues from the UK, left its 2017 outlook unchanged versus an update given in December. The group, restructuring after a string of profit warnings, said it could still be hit as its low-margin contracts had little ability to absorb any additional demands or changes from government customers.
British outsourcer Serco posted a 14 percent fall in underlying trading profit to 82 million pounds ($102 million) in the year to December, meeting targets as it emerges from an overhaul. Serco, which provides transport, health, justice, defence and security services in public departments and gets half of its revenues from the UK, left its 2017 outlook unchanged versus an update given in December. Revenues from continuing operations fell to 3.01 billion pounds, in line with forecasts, as Serco continued to whittle down its portfolio to concentrate on those which make money.