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WorldPosted at: Feb 21 2017 12:59PM


Capita writes down value of historic contracts, says trading in line

LONDON, Feb 21 (Reuters) Outsourcing group Capita, under pressure from a slowdown in demand from customers, said it had written off the value of a number of historic contracts but was otherwise trading in line with the guidance it gave in December.
Capita, which downgraded profit forecasts twice in three months at the end of 2016, said today assets amounting to around 50 million pounds ( 62 million dollars) would be written off as a non-underlying charge. Accrued income of around 40 million pounds will also be written down as a charge.
The assets date back to 2009, with the majority relating to the period between 2012 and 2014.
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