RE: Hold your nerve7 Aug 2023 12:20
But that's exactly what I've being trying to explain here to everyone, but as usual my posts are laughed at when in reality many should take note and act accordingly.
So, here is it again for the ones that missed my post:
Due to business exits, non-core Portfolio goodwill impairment and costs.
And so the statement below from that article would translate that although Capita sold and completed the five businesses transaction, it has also booked in the loss of revenue that was coming in from those five now sold businesses and therefore could put it into today TU.
In the year to the end of 2022, the combined reported revenue and profit before tax of the five non-core software businesses were £35m and £3m respectively.
In this article it says the following:
UK government contractor Capita said it has agreed to sell its five software businesses for an enterprise value of £33m, as the outsourcer tries to strengthen its balance sheet.
The company on Thursday said it hoped to receive cash proceeds of £44m on completion of the deal, including around £9m of cash within the sold businesses. It now plans to and focus on its two core public service and experience divisions.
Full free article here:
https://businesscloud.co.uk/news/capita-agrees-to-sell-five-software-firms-for-33m/