Investors in Capita could be forgiven for thinking it’s groundhog day.
First there was “Simplify, Strengthen, Succeed”. Unveiled in 2018 by new chief Jon Lewis, the strategy was coupled with a deeply discounted £701 million rights issue and £300 million of planned disposals.
Now there is “Future Capita”, his plan to simplify the outsourcer (again) into two core divisions focused on the public and private sectors, flog £400 million worth of businesses and save £50 million a year.
As Lewis has been at pains to point out, he inherited a basket case that had been inflated by a string of poorly integrated acquisitions. But the time for blaming his predecessors has passed.
The share price chart of the company, which handles London’s congestion charge,
