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Please stay, otherwise people are trying to paint a rosey 🌇 picture by finding reason for every bad press and telling us we're panicking lol checked with the doc, been told am relaxed as ever 😄 imho
It’s a closed period Kipper. That’s why Linked In is being used
Love it Trenners 😀 😍
But I only posted what was said in the main internet news and those are there for everyone to make what they want out of it.
For record one more time, I'm Out of Capita and currently fully invested elsewhere and waiting my turn to make a profit all in due time.
As it stands, I shall refrain to post any further comments till after the March results.
Well just 7 trading day's remaining until Full Year Results released on 6th March. (busy two day's for me as LGEN, ITV & AV also report)
My fear is that farmer Jon will have sold even more prime, high yield wheat growing acres at £10k an acre to balance the books & pay for this years new Range Rover Velar. Handing Capita Farm over to son Adolfo with just a bit of pasture, some scrub and woodland to eak a living. Looks like another used Skoda Octavia for old Adolfo. Not sure he will be looking at autonomous combines this year H!
But, we hope for the best & plan for the worst
Next on my weekend moan list is this LinkedIn 'update'.
Why on earth would the new CEO of a £300m company update all stakeholders in said company via LinkedIn? Has Adolfo not heard of the Investor Relations section of the companies website; surely a better place to inform us all on his first month in the job. It's not like he's opened a pizza shop in Croydon & wants to let us know about his tasty pepperoni offering! Maybe he just wanted his LinkedIn chums to rub circles in his back
Come on Adolfo, we own the company, report to us properly.
Lastly, I would consider adding here only at high 15's/low 16's, and not high 17's as there is a 10% difference. Going to take onboard what someone on here said recently (sorry, forgot your name as i'm an OAP, apparently). Will wait for the results before making any decision.
If I can bring my average down to mid 20's I think that is achievable, and at that point will sell out and wish you all the very best of good fortune for the future....
I see the 'gruesome twosome' are put de-ramping again this weekend!
All I would say is this - Adolfo is very successful at what he does (ie: make and run profitable companies) - and I am sure he did a huge amount of due diligence re: moving to Capita as CEO before leaving Amazon Web Services.
We can debate how effective or ineffective JL was (although I think history will judge he stopped Capita from going bust like Carrillion) - but Adolfo is hardly going to jump ship - if the ship has got a huge hole in the starboard side and is beginning to sink.
In Adolfo I trust - in AimMaster and NoFear I don't - should probably get T shirt printed
If you follow the trend, you get atleast one bad news every two weeks from media over the past couple of months...bad news came out yesterday as per nofear's post. The next bad news is in two weeks time? Around results time ? Imho trend is your friend ?
U didn't finish the trend completely.
Next.... They go down again.
Shareheads fate will be dependent on results 😤
Shares go UP
They go down again
Then back UP
The hack allowed this to get dragged back down imo
But the affirmation that this has indeed turned a corner, is on a stable footing, is growing
That’s gonna be the game changer
"Well it did actually double back then from 22p to 44p
Now we have the opportunity to it again and more"
This is very true @sharehead
When we all thought the Phoenix had finally flown to those dizzy heights we all rejoiced
But it was not to be, and our Phoenix turned out to be Icarus, plummeting to earth at 15p.....
One of my all time fave shares was MSFT. Everyone hated them too. It’s a good sign
It’s disappointing to see posters continually criticise Capita like this. You have to wonder why they are on this board. It’s not really constructive and causes long term holders like me a bit of angst. Things go wrong sometimes. In even the most successful companies
I see a strong revenue stream, reducing debt and a fresh hungry ceo. Much to play for here. I would like to see some more contract wins and some more cost cutting
Well it did actually double back then from 22p to 44p
Now we have the opportunity to it again and more
I'm sure u spoke of stampede 12 months to 18 months ago. When the price was around 23p. Did you mean stampede to exit ? Imho
Institutional Investors will be attracted by multi billion year revenues across reliable multi year contracts
Once it’s established beyond doubt that Capita has fully turned the corner with debt under control, revenues growing, margins growing then there will be a stampede to get in here
That time I believe will be soon
Well it’s easy to criticise- you’d know that better than anyone
Doesn’t make the criticism true
Mostly from people who don’t have any better answers but like the sound of their own self importance
1. Army recruitment ran by capita, criticised
2. Pension administration ran by capita, criticised
3. Turing programme ran by capita, criticised
4. Real living wage exit by capita, criticised
Any more ????
Are all of the above going to attract institutional investors are they ? Lol
Capita are doing a reliable job in difficult circumstances and are on long term contracts because they deliver
If the government wants to make army recruitment a priority and more attractive proposition then clearly that can only help
Strangely enough, i can't find much to disagree with there; i've been decrying 'defence cuts' for years now
Tho am not agreeing that Capita are doing a great job, certainly not
AM not really wanting to get into politics but it’s common knowledge the army has been shrinking because of spending cuts and that is causing frustrations given current world events. Should this trend be reversed via increased spending and offering incentives to attract more people in - that’s a political issue and decision.
Capita is just an easy target to fill some news columns in regards an issue that is really far more complex
There are contracts in place and being delivered- but the answers you pose take political will to change
.......apparently not! lol
I'd like to say a special thanks to our new contributor, DD. Keep it coming please
A far better class of member on LSE compared to AD3FN, which is now infected with a particularly nasty worm
Actually, over the last few years i've been reading comments on here, i'm surprised we haven't heard from more ex & current employees.
imho......actually no. Fed up with that. Am going with .....
@sharehead? Care to explain what this is about? Imho
19th February 2024 [GB News]
Rishi Sunak urged to SACK ‘shambolic’ army recruitment firm as sign-ups suffer.
Mark Francois admits army recruitment has been an 'unmitigated disaster' on GB News.
A former Armed Forces Minister warned the army was ‘continuing to shrink before our eyes’
A senior Tory MP has urged the Government to get rid of Capita, the outsourced firm that manages recruitment to the British Army, amid sign-up struggles.
Speaking at Defence Questions in the Commons, Mark Francois asked ministers when the Government would step in to “sack Capita.”
The firm came under significant criticism last month when it was revealed that the Armed Forces were facing significant shortfalls in recruitment, which have been blamed on the rigorous medical assessments candidates must pass in order to start training.
The former Territorial Army infantry officer said: “On the 7th of November, the Chief of the General Staff Patrick Sanders told the Defence Committee ‘we are taking 400 soldiers out of the field army and into recruitment because it takes a soldier to recruit a soldier,’ never a truer word was spoken, so when are we finally going to sack Capita?
Read the full article here:
Furthermore, you directly communicated the same deal to all employees.
“It is incumbent on you to pay what the agreement states and honour the agreement. Our members are furious and keen to seek redress through external means if this matter is not resolved.”
The CWU hopes a resolution will indeed emerge as a result of the involvement of ACAS that is now underway – but, in the meantime, is advising aggrieved members to continue submitting individual grievances with the help of their local CWU rep. (See Capita Members’ Bulletin No. 18/2024)
The disagreement on the implementation of the 2023 pay award in Capita’s VMO2 and Tesco Mobile partnerships is taking place against the backdrop of the company’s wider announcement that it is withdrawing from its accreditation as a Real Living Wage employer – and that in future it will benchmark pay levels for its lowest paid staff at only fractionally above the statutory minimum wage.
At a stroke that move represents an abandonment of the commitment made by made by former CEO Jon Lewis in 2019 to pay a minimum of the amount calculated by the Living Wage Foundation as being required to cover the basic cost of living from April 2020.
At present the RLW is £10.90 per hour outside London – but that is due to rise to £12 per hour on April 1. As things stand, however, that April increase will not now apply to Capita’s lowest paid employees, with them instead receiving a new ‘Capita minimum wage’ of £11.56 per hour which is just 12p per hour above the Government’s confusingly rebranded ‘National Living Wage’.
Earlier this month CWU Capita members from across the union’s Postal and Telecoms & Financial Services constituencies took part in a demonstration against the move outside Capita’s TV Licensing site at Darwen in Lancashire – coinciding with a visit by newly appointed CEO Adolfo Hernandez.
Following Mr Hernandez’s failure to respond to a request from the CWU on February 12 for an urgent meeting about the announcement, this week the union has sent a further letter seeking talks and a reconsideration of “this appalling decision” – warning that, in the meantime, the CWU will be “campaigning against Capita’s decision both politically and in the wider media.”
23rd February 2024
[Mass grievances lodged by Capita VMO2 and Tesco Mobile contract members as disputed 2023 pay deal goes to ACAS]
An increasingly bitter row with Capita over glaring irregularities in the application of the 2023 pay deal for VMO2 and Tesco Mobile contract members is now being escalated to ACAS in a last ditch attempt to prevent the disagreement spiralling into a full-blown dispute.
This week’s (Wednesday’s) agreement between company and union negotiators to refer the issue to the independent arbitration and conciliation service comes in the wake of a remarkable outpouring of employee anger that has so far seen at least 50 individual and collective grievances lodged by members – plus an as yet unknown number of small claims court claims.
The involvement of ACAS – which Capita could theoretically have vetoed – follows the company’s steadfast refusal to date to reconsider the way in which two key strands of the 2023 pay deal were applied in practice, and the CWU’s equally vehement insistence that fundamental issues of trust are at stake on both issues that simply cannot be overlooked:
One involves a carbon copy re-run of the miscalculation of the 2022 pay deal for longer-serving (TUPE population) staff on 36-hour contracts which was finally corrected in March last year. At that stage the company conceded that calculating the pay increase using a formula based on now standard 37.5-hour Capita FTE contract wrongly disadvantaged those on shorter hours. Crucially, in a detailed joint statement with the union that was shared with the workforce at that time, Capita pledged that it would make changes to its systems “to prevent this happening again”.
The second issue involves the company’s failure to inform the union or members that the belated 2023 pay deal was inclusive of, rather than additional to, last year’s Real Living Wage (RLW) uplift that had been automatically applied to 249 of the lowest paid workers on the VMO2 and Tesco Mobile contracts’ in April last year. As such, when individuals came to open their November pay packets, they were horrified to discover that, with the RLW increase deducted, their actual rises bore scant relation to the deal they had overwhelmingly accepted in good faith just a month earlier. That issue was immediately flagged up to management by the CWU, but following a company response just before Christmas – where the company failed to satisfactorily explain its position of not applying what had been agreed – national officer Tracey Fussey was unequivocal as to where the blame lay in a blistering response to Capita’s chief operating officer last month.
“We put the wording of the agreement to our members – the words were provided by yourselves,” Tracey pointed out. Our members participated in a ballot and voted on the agreed deal put before them. It appears that you have inexplicably reneged on the deal. Furthermore, you directly communicated the sam
4 lost years about covers it, Culley.
I didn’t mention the cyber attack due to character limits, but there be dragons. Potential big one off there, but the noise is pointing to 8 figures rather than potential 9.There was a hell of a lot of old software in extended support, or just mitigated by enhanced security software. A bit technical for here, but there was a risk of a large data protection fine if someone determined controls to be inadequate.
As to future I’d expect Microsoft is helping there though. The big cloud companies tend to provide a lot of cloud credits against the consulting cost of upgrading and moving to the cloud. Think millions in cloud cost savings when you spend a few million on consulting because of the pretty much guaranteed vendor lock-in.
As to redundancies , per my previous post they are sharper now. But with Capita it’s important to remember that the vast majority of employees are bums on seats in profit centres. Like I said there was a good complement of inefficiencies between legal entities, with busy fools repeating due to a basic lack of integration, but talk of 4000 redundancies below is far fetched.
There was lots of talk of automation and AI for client facing services, but a lot of Capitas business is based on FTE and not transactional, so there’s gain share considerations with shaving client facing headcount typically.
By and large, there’s plenty of plain old bloat to trim - underway - without getting into opportunity plays in AI and automation, which should be able to deliver on the bottom line. The key challenge will be maintaining a growing order book while the necessary zeal is applied to cuts