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NOVEMBER 27, 20208:40 AMUPDATED 2 HOURS AGO
UK's Capita in exclusive talks with PE firm Montagu for ESS sale
By Reuters Staff
2 MIN READ
(Reuters) - British outsourcer Capita Plc said on Friday it was in exclusive talks with private equity firm Montagu over the potential sale of its standalone Education Software Solutions (ESS) business.
The company, which has been trying to sell some non-core assets, had expected to get at least 500 million pounds ($668.25 million) for the education software business, whose platform SIMS is used by 21,000 schools in England, Wales and Northern Ireland.
It's good news today:
Capita plc - Response to Media Speculation
Education Software Solutions
Capita plc ('Capita') today notes media speculation regarding the potential sale of its Education Software Solutions ('ESS') business.
Capita confirms it has entered into exclusive talks with Montagu over the potential sale of ESS.
There can be no certainty that a sale will be concluded nor any certainty over the terms of any such sale.
Any further announcement will be made if and when appropriate.
This announcement contains inside information.
For more information please contact:
Investor enquiries
Stuart Morgan
Director of Investor Relations
Tel: 020 7654 2220
Email: IRteam@capita.co.uk
Media enquiries
Capita external communications
Tel: 0207 654 2399
Email: media@capita.co.uk
It would indicate that the upward has started!
The movement is really strange. Some say there might be a take-over later. Not sure, but when the price is low a take -over would be cheap!
I believe that there is something going on behind...
Would there be anything left over for o. share holders?
This is a good one to add and hold. I predict SP ends at 320p today!
92p after reading comments by Hargreaves Lansdown(HL): "
Food and clothing retailer Marks & Spencer said full year profits fell by a fifth as it took a £218m hit from the Covid-19 impact and said no dividend would be paid in 2020/21.
The company on Wednesday reported pre-tax profits of £67.2m, down 20% including adjusting items of £335.9m, with £212.8m for costs and stock write downs for Covid-19. Adjusted pre-tax profits were dpwns 21.2% at £403m, below average estimates of £415m.
Total annual revenues fell 1.9% to £10.18bn.
Food like-for-like revenue rose 1.9% and operating profit 11.2% as shoppers stockpiled in the early days of the UK lockdown, but clothing operating profit slumped by 37.0%, adversely impacted by availability in the first half. "
"Ocado Retail positioned strongly for growth
During the year we completed the purchase of 50% of Ocado Retail providing M&S with a profitable, scalable presence in online grocery, the UK's fastest growing channel. We reported a first time net income contribution for Ocado Retail to group profit of £2.6m for the 7 months to 1 March 2020, with the early contribution reflecting the limited period since completion. This is the contribution to group results prior to switchover to M&S supply on 1 September, which we expect to drive volume growth for M&S Food.
We have been working closely with Ocado Retail to create a 'one business' mentality which includes common operating procedures, business plan, and shared talent. Switchover and synergy plans are on track. The value of the investment we have made has been further reinforced by the strong growth reported by Ocado Retail since lockdown, with growth for the most recent 9 week period of 40.4% reported at its AGM on 6 May."
I think the sp should go up a bit today at 62p.
I am looking for a move up to 370p Monday.
It looks good to snatch some early morning!
Open at 6p and could go up to 8p, but I think it will hold at 5.5-5.8p later.
It looks that SP will go up further 30% tomorrow.
I am not greedy, but expect a moderate profit tomorrow.