Bungling Capita has £1.7bn wiped off its value in a day after issuing shock profit warning
Capita, the outsourcing firm that collects payments for London's congestion charge and the BBC licence fee, saw £1.7billion wiped off its value after issuing a shock profit warning.
The FTSE 100 firm, which saw shares plummet 26 per cent, blamed the disastrous update on corporate customers dithering over future projects and a £25million penalty from Transport for London for the late delivery of an upgrade to its computer system.
It has also become embroiled in a legal spat with another client – the Co-op Bank – in a dispute over payment.
Capita saw its biggest share plunge ever, down 254.5p... read more
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