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REG-Capita PLC: Full Year Results 2022
2 March 2023 7:00 am
Capita plc
Full Year Results 2022
A turnaround in our underlying financial performance, with increased adjusted
revenue growth, profitability, free cash flow and a material reduction in net
debt.
Revenue is growing with increasing momentum (adjusted growth 4% in H2 2022, 1%
in H1 2022):
* Increase in adjusted revenue(1) growth. Revenue increased 2.4% to £2.8bn
(2021: 0.1% growth)
* Capita Public Service grew by 2.5%, Capita Experience grew by 0.9%, a strong
turnaround following the 10% decline in 2021; Portfolio increased by 10.3%
* Strong sales performance in Capita Experience, 71% growth in TCV from prior
year; Capita Public Service pipeline increased as contract awards delayed from
2022 into 2023 - expect sales acceleration in 2023
* Order book of £5.8bn; book to bill at 1.0x (2021: 1.2x); strong weighted
pipeline (£2.2bn) with 50% of pipeline from growth with existing and new
clients
* Customer net promoter score +6 points improvement to +35; employee net
promoter score +15 points improvement
* Group well positioned for sustainable revenue growth
A step change in profitability
* £197m increase in adjusted profit before tax(1) reflecting revenue growth
and reduction in restructuring costs, contract-related provisions and
impairments
* Reported profit before tax of £61m (2021: £286m) as a result of reduced
profits associated with disposals and current year non-cash goodwill
impairment
Positive free cash flow and material reduction in net debt
* Positive free cash flow before the impact of business exits(1) of £29m
(2021 outflow: £219m); strong increase in cash generated by operations from
increased operating profit, reduced pension contributions and cessation of
deferred VAT repayments
* £397m reduction in net financial debt and leases (IFRS 16) to £482m (2021:
£880m) funded by operating cash flow and disposals
* Net financial debt (pre-IFRS 16) of £85m as a result of our successful
disposal programme; net financial debt/adjusted EBITDA (pre-IFRS 16) 0.5x
(2021: 3.7x)
* Gross proceeds of c.£485m achieved in 2022, total receipts from disposal
programme now over £1.3bn
Year ended 31 December 2022
Financial highlights - continuing operations Reported 2022 Reported 2021 Reported YOY change Adjusted (1)2022 Adjusted (1)2021 Adjusted (1) YOY change
Revenue £3,014.6m £3,182.5m (5.3%) £2,845.8m £2,777.8m 2.4%
EBITDA £235.7m £222.3m 6% £238.8m £143.0m 67%
Profit/(loss) before tax £61.4m £285.6m (79%) £73.8m £(122.8)m
Genuine question. Why do you think a trading statement will make any difference? None of the previous ones have, in fact they often have caused a decrease in share price, even when the company thought that the statement was positive
Some people on here don't like if someone say negative about this Dog s..t cpi or criticise the incompetent management of this dog poo.
They trying hard to sell anything they could but the share price won't move up.
Your out with 36 percent profit? Are you 12?
That's one of the most ridiculous posts I've seen in years
Held for enough years since 2015, down more than 90% till I topped at 57p all the in 2020. Yes I'm glade I recovered those losses and out.
Good luck everyone.
Operational, Corporate & AGM Update
17 December 2021 10:00 am
Gulf Keystone Petroleum Limited
17 December 2021
Gulf Keystone Petroleum Ltd. (LSE: GKP)
("Gulf Keystone", "GKP" or "the Company")
Operational, Corporate & AGM Update
Gulf Keystone, a leading independent operator and producer in the Kurdistan
Region of Iraq, today provides an operational and corporate update.
Jon Harris, Gulf Keystone's Chief Executive Officer, said:
"We are pleased to announce that we have submitted a draft Field Development
Plan to the Ministry of Natural Resources. While the timing of FDP approval is
uncertain given the scale of the project, this is an important step forward to
develop the significant potential of the Shaikan Field while more than halving
CO(2) per barrel by eliminating routine flaring.
Production performance has been strong, reaching a record monthly average high
in October, and we are on track to meet our tightened 2021 gross average
production guidance. With our leverage to oil prices and low cost base, strong
production has translated into robust cash flow generation. We have
experienced operational challenges with SH-13 and SH-14 and, subject to well
productivity, we are now targeting to increase gross production towards 55,000
bopd in January."
Shaikan Field Development Plan ("FDP")
· Following extensive constructive engagement with the Ministry of Natural
Resources ("MNR"), Gulf Keystone and its partner Kalegran B.V. (a subsidiary
of MOL Hungarian Oil & Gas plc) ("MOL") have submitted a draft FDP to the MNR
· The FDP includes the continued ramp-up of Jurassic oil production, an
appraisal of the Triassic reservoir and a Gas Management Plan to more than
halve CO(2) per barrel by eliminating routine flaring
· The FDP is subject to review and final approval by the MNR, the timing of
which is uncertain given the scale of the project. Final investment decision
("FID") is also subject to approval of both Boards of Directors of Gulf
Keystone and MOL, and the Company will provide an update at the appropriate
time
Operational
· Following over 660 days without a Lost Time Incident ("LTI"), we were
disappointed to have an LTI during drilling operations in
October. Following the incident, we have completed a full investigation and
have put in place a number of remedial actions
· Gross average production from the field in 2021 to date of c.43,300 bopd,
in line with tightened 2021 guidance, with record gross average production in
October of 45,654 bopd
· SH-14 has been drilled, completed and is currently being
hooked-up, following delays caused by equipment failures and wellbore issues
in the subsequent side-track
· Following the rig move from the SH-13/SH-14 well pad, an acid stimulation
programme is now underway on SH-13 to access the broader fracture network
in the reservoir after an area of low fracture connectivity was
encountered. Acid stimulation is commonly used in carbo
(Reuters) - British drugmaker GSK said on Tuesday its antibody-based COVID-19 therapy with U.S. partner Vir Biotechnology is effective against all mutations of the new Omicron coronavirus variant, citing new data from early-stage studies.
The data, yet to be published in a peer-reviewed medical journal, shows that the companies' treatment, sotrovimab, is effective against all 37 identified mutations to date in the spike protein, GSK said in a statement.
Last week, another pre-clinical data showed that the drug had worked against key mutations of the Omicron variant. Sotrovimab is designed to latch on to the spike protein on the surface of the coronavirus, but Omicron has been found to have an unusually high number of mutations on that protein.
"These pre-clinical data demonstrate the potential for our monoclonal antibody to be effective against the latest variant, Omicron, plus all other variants of concern defined to date by the WHO," GSK Chief Scientific Officer Hal Barron said.
GSK and Vir have been engineering so-called pseudo-viruses that feature major coronavirus mutations across all suspicious variants that have emerged so far, and have run lab tests on their vulnerability to sotrovimab treatment.
Bank of America expects Brent crude to hit $120 a barrel by the end of June 2022.
A global energy crisis has sent prices for gas and coal soaring around the world, and this has turbocharged the recovery in benchmark London- and New York-traded oil futures, (Bloomberg)
Swat... they reporting bookings higher than 2019 (pre-pandemic levels) all good news.
I used to work for the catering company catering easyJet in Manchester airport and liverpool pre covid and we used to cater (don't remember exact numbers) 30/40 flights every day pre covid.
It's gone back up to the same number of flights pre covid 19.
Today 25 easyJet flights going out from Manchester and 14 from liverpool.
Anyone can check on the airport website.
Gatwick south is a ghost. Manchester not flying anywhere near pre covid, no flights to france etc
Today 14 easyJet flights going out from liverpool
29 from Bristol.
Gatwick. Too many, no time to count them.
Must be busy if so many flights is going out from all uk airports.
Gatwick south is a ghost. Manchester not flying anywhere near pre covid, no flights to france etc
1 07:25 Paris (CDG)
EZY1925 | easyJet
2 13:05 Paris (CDG)
EZY1931 | easyJet
3 17:25 Paris (CDG)
EZY1927 | easyJet
All easyJet flights departing today from Manchester airport are available on Manchester airport website.
25 Ezj flights is flying out on 1/11/2021from Manchester alone. Almost Similar numbers pre covid.
We used to cater 30/40 flights daily pre covid19 Manchester and liverpool.
Moor flights from Gatwick than Manchester.
Aramco profit surges on higher oil prices
Third-quarter net income of the world's largest oil exporter hit $30.43bn, up 158% from the same period a year ago.
(Thenationalnews.com)
Are we expecting (GKP) similar percentage increase in profit in next update?
Hope so.
So Putuo, what is annual profit at 85 dollars and 55k bopd?
Fuel is much cheaper in producer countries compared to non producer. Krg will be buying from gkp very cheap. so I dont think we will benefit much from high price .
Example in Qatar super petrol is Qr2.05 = £0.40 per letter.
Cpi is a dog sh.t.
Cpi management are useless.
How long ago we been told of transformation? That transformation should have shown its result by now. Annoying.
It's not new that cpi is on loose motion as usual.
Hope it doesn't become another interserve.
didn't buy at the intention to lose money, I don't put all my eggs in one basket and won't sell it less then £1 or until this company to go bust. this company is clearly in the hand of incompetent hands.