Capita return to growth ‘distinctly possible’ as turnaround starts to do the trick August 1, 2019 Capita’s market value shot up today as investors toasted the first fruits of a sweeping turnaround plan. The outsourcer’s share price jumped 17 per cent on the news margins had grown in four of its six main business divisions. Capita runs the Ministry of Defence’s recruitment programme for the British army. The figures Pre-tax profit [...]
Serco continues to power ahead of outsourcing crowd after US deal July 31, 2019 Serco shares rose today after it reported a nearly one-third jump in first-half underlying profit. The outsourcer, which has increasingly looked overseas in recent years, said the increase was in part down to revenue growth in North America. Read more: Serco fined £19m for government tagging contract fraud Shares rose five per cent today. The [...]
Interserve names former Seadrill finance chief as new CFO July 23, 2019 Interserve has appointed former Rolls-Royce finance boss Mark Morris as its chief financial officer. Morris, who was previously finance boss at drilling contractor Seadrill, will join the outsourcer on 1 September. Read more: Interserve losses narrow to £111m Last year, he helped the firm through a major restructuring to keep the driller afloat. Seadrill, once [...]
Industry slams Labour plan to bring outsourced public services in-house July 21, 2019 Business leaders have pilloried a Labour policy announcement to bring local council jobs like construction, bin collection and school dinners in-house. John McDonnell this weekend said the party wants local councils to carry out the services themselves rather than pay companies to do it. The Confederation of British Industry’s chief UK policy director Matthew Fell [...]