back to article Capita swallows £50m blow after writing down historic contracts

Everyone's favourite cuddly outsourcing corp Capita is writing off a cool £50m worth of assets related to certain deals with customers after a "comprehensive review across its major contracts" base. The listed firm today told the London Stock Exchange that top brass had decided to "impair, at the year end 2016, a number of …

  1. Anonymous Coward
    Anonymous Coward

    Well the "C" certainly isn't for competence ...

    I have no idea how much they are paid to r̶e̶j̶e̶c̶t̶ assess PIP claimants, but given how much effort they have wasted with my wife so far, it must be an *awful* lot.

    I submitted 56 scans (all cross referenced), plus a detailed covering note, from 1987 to 3 days before the form arrived.

    We are now on our THIRD cancelled (by them) wait for an assessment - 5 months wait so far.

    They also fell into the elephant trap I laid in the covering note, but that will be another story.

    Suffice is to say I think they'd struggle at £500/claim, and I suspect they are paid less than that.

    Especially if the cost of appeals is taken out of the initial fee (as you would expect it should be, although this is UK plc).

  2. Anonymous Coward
    Anonymous Coward

    Capita's newest venture: Bioengineering

    They've making hybrid anminals! Fat cats that use weasel words!

  3. PNGuinn

    Aw - Diddums, Crapita

    See title. >>

    See icon. >>

  4. Terry 6 Silver badge

    Beats me...

    ....why they have ANY contracts that pay money. Any client that is willing to pay the true cost+profit of what they need these jokers to do would be better off finding a company that doesn't have such a reputation for awful performance. Which would leave them with just Barnet, aka The London Borough of Capita as a client.

    1. Anonymous Coward
      Anonymous Coward

      Re: Beats me...

      "better off finding a company"

      Good luck trying to find a company they won't possibly purchase to steady their ship, Capita brought out ABS Networks and for some reason for the past few years keep forgetting we are a customer, I wouldn't be surprised if that £50 million of contracts is down to them not bothering to send out the invoices.

  5. Barry Mahon

    The Irish post code is another of their cockups. Not compatible with GPS.

    1. Anonymous Coward
      Anonymous Coward


      The British post code system was created before GPS so it abviously wasn't campatible. I think the magic word here is "post" as the system was created by the GPO to aid sorting and delivery of mail. Only later did they spot the financial benefit of charging for the data with the Post Office Address File (PAF).

      How to waste time, read about "Eircode". Another government system designed by a committee wearing blinkers, it makes a change that it was not HM gov.

      Who needs a post code anyway? My parents used to live in Killiney, Co. Dublin and had a shop in Dun Laoghaire. One day a postman walked into the shop with a letter addressed to Mrs <family name>, Dun Laoghaire. Talking to my mother he said "I think this may be for you", and it was. All other post delivered was addressed to the shop/business for the few years they were there.

  6. Anonymous Coward
    Anonymous Coward

    Fake money

    Given that Capita perform considerable recharging for internal services (even sometimes more expensive than external competitors -with which you have no control) the vast majority of their turnover is effectively wooden. The value brought is paltry by comparison.

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