Major business outsourcing company, Capita has suffered a fall in shares for the first time in 15 years following a number of profit warnings. The company manages a number of important services in the UK including London congestion charges, Jobseekers Allowance and it even collects the TV license fee on behalf of the BBC.
Capita recently issued a series of profit warnings in 2017 and has already cut its profit forecast. The company’s shares have decreased by 40%, however they have revealed plans to raise £700m by issuing new shares in the hope that they do not follow in Carillion’s footsteps.
A Cabinet Office Spokeswoman said that Capita is always monitored by the Government as they are a strategic supplier. The firm currently employees around 70,000 people and won 154 government contracts last year alone.
Although Capita seemingly isn’t yet headed for the same destiny as Carillion, it is still important to ensure that your business is protected against potential insolvencies. Call us on 01275 817320 to discuss the options available to you.