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S_KR. So, it is the government's fault that Capita has been such a $hit show for the past few years? Plenty of companies (including outsourcing firms) have managed to hold their own over the last few years, so I'm afraid your argument simply does not hold water. (I don't support this government, by the way.)
If my position is 'curious', yours is utterly bizarre.
Savage - not any stranger than you espousing Labour on a share board in which you’ve made clear you’ve currently no intention to buy?
RR... a defender of this failing Gov to the bitter end it seems... even when widespread evidence points to mass scale economic mismanagement of UK PLC, including knock on effects to CPI, of which he has huge holdings of. It seems you put CPI's failings down to the company itself but... then you proceed to go on and say they won't get better under Labour and may get worse?
So... How can it be that recent terrible past performance is squarely due to CPI itself... yet you say in future the bad performance will be down to a Lab Gov?...
Reminder: you also previously said "we might see a lot more 'insourcing', once Labour get into government. It is yet another risk factor for Capita."
It's a most curious position you're conveying here.
S_KR. You seem to have completely misunderstood what I have been saying, so let me put it in simple terms.
Capita have performed badly for the last 6 years (hence the current sp). They are, by most measures, a failing company. Things may not get better for Capita under a new government. Indeed, they may get even worse.
RogueRiver - your comments are a most Curious wonder... The psychology behind your decision to stick rigidly defending blatantly poor performance that is... I suppose it's far easier to fool someone than it is to help someone understand they've been fooled eh?!
Savage_KeyboardR. No. The Conservatives have been largely supportive of Capita. They haven’t exactly been cheering them from the rafters, I know, but they have been content to leave a things as they are, with little intervention, probably content for Capita to take any flack, so ministers don’t have to. Capita’s problems (COVID excepted) have been mostly of their own making.
I’m not sure Labour will be happy to continue with this ‘hands-off’ arrangement and may see it as an opportunity to be more proactive regarding public services.
RogueRiver... You stated "bashing Capita is unlikely to be a vote loser for a new Labour government seeking ‘fresh’ ideas."
Do you ever take a moment to pause and consider that right now Capita looks as though it's been given a thoroughly monstrous bashing by the current illustrious Tory Government?
Sorry scratch this-thought she was leaving Capita-great news for us!
Thats a shame as she came with a great reputation but hopefully she will put in place the building blocks necessary to get the transformation going.
Culley01. As I’ve said before, it may not happen at all, but it is another risk factor. As far as insourcing is concerned, Labour policy appears to be to take the best examples of in-house services provision and use them as a template for other councils to follow. So, for example, the Brent plan might be promoted more widely and enthusiastically under a Labour national government. As I say, bashing Capita is unlikely to be a vote loser for a new Labour government seeking ‘fresh’ ideas.
Cirata plc (LSE: CRTA), today announces that Xenia Walters has resigned as a Non-
Executive Director.
Xenia's decision follows her appointment to a new executive position at her current employer and she has advised the Board that she will be unable to dedicate sufficient time to enable her to contribute to Cirata appropriately.
The date that she will be leaving the Board will be 24 July 2024. A process is underway to identify her replacement.
The Board wishes to thank Xenia for her valued contribution during her tenure.
The person responsible for arranging the release of this announcement on behalf of Cirata plc is Larry Webster, Company Secretary.
All I know is we were doing OK until us pre market scuppered that. Skanks.
RogueRiver I think it will be interesting how much work is actually taken back in house. The motivation is basically empire building as the more work is taken in house the bigger the council staff etc. The problem is that it is likely to cost a good deal more than outsourcing as councils are incredibly inefficient, however the council leadership may not care & just forge ahead spending our money until they go bust.
Personally I think it will be neutral but we’ll get a much better idea of how Capita intends to grow withe the June update
Rogue River I would retort that you didn't express the date of this either which I think would have been useful. Do you have any other examples of this occurring in the last 14 months ?We have long term contracts, a driven CEO with a proven track record, a new direction and I think you are going to see a strategic shift way from the public sector. I don't know an industry where there are not unhappy customers. It would be great to see some balance from you on the opportunities as well as the risks
Trisor. I didn't claim it was breaking news. It merely serves to illustrate what may happen on a wider basis, with a Labour government in power (which is all but inevitable later this year).
Rogue River this is over a year old. I think you are going to see a strategy which looks to the private sector rather than the public sector. There is just not enough cream in the public sector
As I mentioned before, we might see a lot more 'insourcing', once Labour get into government. It is yet another risk factor for Capita. Let's face it, Capita are generally loathed by the press and public (admittedly, not always fairly), so Labour can probably smell votes to be gained here.
"Insourcing win at Barnet council
Over 300 staff in a variety of services like trading standards, environmental health and other regulatory services, will now be transferred back in-house
Staff at Barnet council are due to be transferred back to council employment thanks to a decade-long campaign by UNISON.
The 330 affected workers are currently employed by outsourcing multinational conglomerate, Capita, and are being brought back in house after the council was used as a test case for the outsourcing of local government services.
The staff who work under a joint venture called ‘Capita Re’ in a variety of areas like trading standards, environmental health, planning highways and other regulatory services, will be TUPE transferred back in house on 1 April this year.
In 2012, much of the service provision at the council was outsourced to Capita on decade-long contracts by the Conservative-controlled council, with the intervening 10 years marred by several controversies including a multi-million-pound fraud and contracts running vastly over budget."
https://www.unison.org.uk/news/2023/01/insourcing-win-at-barnet-council/
Appears to be a bit of a waiting game but as long as it ticks up and stays away from the 12’s I’m happy enough.
The other possible reason there was a delay from 1400 to about 1630 is that whilst rishni announced the big numbers at lunchtime, the details were only released in a press release later
Yes, the price is up again this morning, which could be follow through from yesterday, plus the 95bn through senate overnight
Same daily pattern. Rises in the opening , drifts downwards during the course of the day till the end.Will it repeat???.Hope not. End in green.
Still no clue as why it popped up yesterday's close.
I was a bit vague in saying 14 00. Some defence spiked at 14 00, others a bit later. Capita delay was probably because defence content not so obvious
If you look at other defence eg avon, serco, you will see they all spiked in the afternoon. Sometimes it takes an hour or so for the market to react.
We actually dropped below 13p just after 2pm so don't think it could be that imho
Capita spiked after 4pm so don't think that's the reason imho
Https://www.ft.com/content/a6f7fcb6-5580-4fa7-b16b-f7fc8bc650e4