Capita has announced a transformation plan and a share issue to raise £701m, as it reported a pre-tax loss of £513m on revenue of £4.23bn in 2017.
The company is to focus on fewer activities, will be more selective in tendering, and aims to “dramatically reduce its cost base”.
Capita is the largest provider of outsourced services across UK local authorities, with around 15 per cent market share. While the number of new large deals have been in decline...
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