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Capita warns on profit as it sets out drastic shake-up

Outsourcing firm Capita has announced a major shake-up as it warned on profits and said it had to change its approach to succeed.New chief executive Jonathan Lewis said the firm had become “too complex” and “driven by a short term focus”.The firm, which issued several profit warnings last year, has once again cut its profit forecast and detailed plans to raise £700m via issuing new shares.The move comes after outsourcing rival Carillion collapsed earlier this month.Capita operates the London congestion charge and collects the TV license fee on behalf of the BBC.
Source: BBC News

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My name is Joel Bissitt. I have been an entrepreneur for 24 years and have run many small businesses across various sectors. For the last 10 years I have worked mainly within online media, franchising and small business start-ups.

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