Agreed. I think they made it clear that there would be some kind of communication about dividends in August.
Another point occurs to me: Senior management are not going to want to be around excess staff in the future due to the risk of allegations of inappropriate behavior. We have seen some really senior executives caught out recently including CEOs.
It seems to me that business culture will change with work from home being the default for many especially those with child care responsibilities with both parents working. That's going to drive a lot of work to Capita because I don't think the civil service has the means to manage staff properly in that environment.
I don't agree with that analysis. Money talks politics walks, the government has to reduce the size of the public sector employment roll. It can't put taxes up any more, other than perhaps raise council tax on larger properties, and it has to release employees for the private sector.
I am just as frustrated as everyone with the share price and actually I can't understand it BUT long term Capita's beautifully positioned especially with its high quality work from home roles. I reckon they will be able to attract high quality staff which will help the experience division.
Another good thing apart from the police being the best reference for data security is that it looks like it will be serviced by homeworkers.
I don't know about you but if I was semi retired living somewhere nice (OK I am, but anyway) I wouldn't mind £30k to talk to people about an interesting subject like fraud. I could genuinely see myself doing that. It looks like Jon Lewis has played an absolute blinder in going for this kind of contract for work from home and Capita has the credibility to win the business.
That is excellent all round, particularly for staff retention and quality.
The problem is that in many of our minds this company has been atrocious at winning new public sector business especially during covid.
The chancellor of the exchecker announced today:
"The review, to be carried out by John Glen, the Chief Secretary to the Treasury, will challenge the public sector on how to do more for less.
It will consider greater digitisation, more use of artificial intelligence, better use of property and ways to work with the private sector."
I would much rather pick up the phone to the chancellor than argue with the three nut cases on this site, which is why they are filtered out.
It's clear that the long-term destruction of value in this company has driven many investors mad quite literally. They are reduced to seeking validation on this board. I am down a few quid myself like many many others but I blame my own stupidity rather than thinking that the CEO is out to get me.
"Jeremy Hunt: Slash state or austerity will return
The chancellor will call for Whitehall to make permanent productivity savings
The chancellor will call for Whitehall to make permanent productivity savings
TOLGA AKMEN/EPA
Oliver Wright, Policy Editor
Saturday June 10 2023, 12.01am, The Times
Jeremy Hunt will call next week for a permanent reduction in the size of the state to fund tax cuts, warning that the public sector has grown “too big” compared with the size of the economy.
The chancellor will use a speech to the Centre for Policy Studies think tank to point to figures showing that government spending accounts for 45 per cent of Britain’s GDP, up from 35 per cent at the turn of the century.
He will call for Whitehall to make permanent productivity savings to allow cash to be freed up to pay for tax cuts rather than a return to austerity. Treasury sources pointed to figures showing that while productivity in the private sector had bounced back to 1.3 per cent above pre-pandemic levels, productivity in the public sector remains 5.7 per cent below its 2019 level.
Hunt will signal major investment in government IT systems, pointing out that if productivity in the public sector improved by 1 per cent it would be enough to get the economy growing faster than state spending.
The move, first reported by the Daily Mail, is designed to signal to Tory MPs that he is committed to reducing public spending to fund tax cuts in the medium term. Hunt is under pressure to announce tax cuts in the autumn, but he fears that rising interest rates, and their effect on government borrowing, could make giveaways unaffordable.
He will signal the government’s determination to rebalance the state against the private sector, making the case that this is the only long-term, sustainable way to reduce taxation.
“Jeremy believes it is time to make the argument that the size of the state has grown too big relative to the size of the economy,” a Treasury source said. “No one wants a return to austerity, so we need to find a way of raising productivity in the public sector significantly in order to get more for less.”
The Times
I must say that even when we think about the present and the future this share tests patience.
I know the market is down a bit today but I was looking forward to a decent uplift on confirmation of inclusion in the FTSE 250.
Absolutely nothing :-(