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Thread: Capita

  1. #1

    Capita

    Just seen on the BBC News, Capita has issued a 'big' profits warning, profits down 30%, problems with cash flow, the way its contracts are set up. The BBC Business News, linking it to the Corillian story and those serivce providers to Government, though not saying Capita "on course for a demise like Corillian". But was linking the story to there being problems in that sector.

    It was only breaking business news, reporter said there would probably be more in the next few days.

  2. #2
    Just seen this I saw this on the BBC and thought you should see it:

    Capita shares plunge after warning on profits - http://www.bbc.co.uk/news/business-42885211

  3. #3
    Capita used to administer my Gov. pension scheme, this was taken over by Gov. again some years ago.

    The story has been on other Forums, since the announcement this morning, including Benefits and Work forum, it was commented on there that they hope the PIP contract they have, is not one of the less profitable ones, as enough problems, with the administration/assessment of that already. I suppose another problem with the PIP contract, this is only my own view, that now there are concerns over the discriminatory way the awards were made and assessed, with the re-assessments, and much of the decisions, basically being made on the HP's recommendations, and for much of the time, Decision Makers were told not to go against HP's advice. Might the assessment providers, Capita/Atos (& Atos re-brand), be seen as a scapegoat, or at least part of one for the failings in the system, as the Gov. could say, well they are the medical professionals, we only went with their advicde on medical grounds (bit of Devil's Advocate there).

    Do not forget, it was reported that Health Professional and outsourcing of that side cost more than the estimated bill, by millions.

    When I started the thread, it had just been announced then reported on BBC, not long after the downturn had been around 40%, then 45%, so I am not surprised it finished around the 50% mark. Though Capita did report, that dividends were frozen, for now, or something like that during the day, and other measures. If the market believes, the measures will work, the shares can recover quite quickly, if not to previous level. But they were dropped from the FTSE 100, last year, if I recall correctly.

    Though they may not be popular, they certainly are not on my XMass list, if they were to leave PIP, without something being in place, it would probably be worse for everyone in the short term.

    Edit:
    Sorry bit rambly, cars been in garage for a few days, just found out its basically had it, £2k + to fix, so I'm going to struggle to get out now, going to have to rely on friends and family, to lug me around.
    Last edited by mzmps; 01-31-2018 at 05:29 PM.

  4. #4
    Capita Goons are employed by the bbc /tvl to collect the TV tax and their licence salesmen (aka enforcement officers) are as corrupt as their HCP's at PIP assessments are

  5. #5
    Quote Originally Posted by tom34 View Post
    Capita Goons are employed by the bbc /tvl to collect the TV tax and their licence salesmen (aka enforcement officers) are as corrupt as their HCP's at PIP assessments are
    A friend was never big on watching TV - he used to watches some documentaries on iplayer on his PC, which at the time did not need a license and he is now old enough for a free one - a few years ago he had a knock on the door.
    >> "Excuse me Sir, our records show that you haven't got a TV License"
    ** "I haven't got a TV"
    >> "Why haven't you got a TV License?"
    ** "I haven't got a TV"
    >> "You need to get a TV License"
    ** "I Haven't got a TV - do you want to come in and look?"
    >> "you haven't got a TV License"
    ** "I Haven't got a TV"

    etc. for about five minutes.

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