The reason behind the 6.5 per cent fall in the Capita share price is not entirely clear. At first glance, all of the various metrics by which the outsourcer is measured appear to be going in the right direction, barring the bid pipeline of work potentially to be won.
This is important enough, and the company updates the market on it three times a year. The actual numbers, a fall in the total from £5.7 billion in July to £4.1 billion, should have been known.
As to those metrics, Capita remains on track for organic growth of at least 8 per cent for 2014, equal to last year’s figure. Cashflow remains strong, with the expectation that the cash-to-profits conversion will remain on or about 100