Member Info for Peterrr

Scroll to the bottom of your link SOG. All of the banks have similar scores.

It doesn't excuse it and won't stop the penalties, but the floor plans are off an open source bolt on, it is quite possible the job applications came through a similar route and there was another level of control before final data storage.
The problem is that services have either not been fully restored or services are available but key clients are hesitant to interact given ongoing security uncertainty.
Operationally, nothing has really changed since my post a few months ago. No new contract wins, ( certainly no-one is going to put up their hands now). Lewis actually said that current revenue, cash flow and profitability included results from disposed and not just ongoing business operations. The silence from divisional leads is deafening, unless the topic of equality, employee well being or yet another inclusion related yammer group or bench mark is established. I still think senior management hide behind it and will also now hide behind the cyber attack for not bringing in new quality clients.

The business remains profitable based on existing contracts and work quality has improved and it is good the debt burden is a thing of the past, but it is unsatisfactorily the same old pig with new lipstick once you get past the operational teams. New joiners have just gone with the flow and not changed the dynamic.

Lewis must be wondering where he can find someone who can take the hard decisions, 4 years on and no real progress in transforming the team beyond the gender mix.

It won't deserve the hammering the share price will probably get now but neither did it deserve the ramp up from 30p to 42p on a growth agenda, but business as usual reality.

On an unrelated matter, once the overtime dies back they will probably lose some key skilled workers with a pay increase so far below inflation for most. But credit those on the lowest wage kept up.

I'll shut up for a few more months to give you some peace now.

It is the timing that is a key problem here, a pile of end of year quarterly, triennial and annual filings missed or at risk of being missed with associated penalties and adverse regulatory disclosure by a bunch of grumpy clients. Annual pension increases may not be fully processed before the pay runs and precautionary measures from both sides limit the transfer of key data with others, such as annuity providers or Investment Funds, so a pile of rectification work at Capita's expense when they are back up and running. Bad luck being so close to tax year end. Won't be cheap and will be remembered unfortunately.

Public is probably chugging along but no material new contracts. Lewis said income may be weaker due to changes in how agreements were interpreted, I assume that includes the larger ones like defence. Experience not growing, you don't replace divisional leads twice from over performance, but contract renewals look ok. For new work looks like being kept in bid lists o make up numbers. Move to lower overhead locations India, Poland, Bulgaria, SA looks steady, but the UK management structure is still too top heavy to deliver good margins with the living wage increase which must come. Consulting going nowhere needs a clean out to refresh the offering. Unfortunately still playing second fiddle to overpriced consultancies seen as more expensive but safer bets, so only get the unwanted crumbs. Too much internal effort on soft HR outcomes wrt gender/ethnicity work life balance, only impresses public service HR managers, not those who make the contract decisions. If they can get a better handle on margins should easily be profitable and if Corrine Ripoche does it she should replace Lewis and I am sure he will be glad to go.