Capita says cuts will hit its revenues

first_img Tags: NULL Show Comments ▼ KCS-content whatsapp Thursday 18 November 2010 8:14 pm Sharecenter_img Capita says cuts will hit its revenues whatsapp by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeNext RefinanceThey Drained Niagara Falls — They Weren’t Prepared For This Sickening DiscoveryNext RefinanceFilm OracleHer Love Triangle Inspired 3 Of The Most Popular Songs Ever WrittenFilm OraclePast Factory4 Sisters Take The Same Picture For 40 Years. Don’t Cry When You See The Last One!Past FactoryFinanceChatterViewers Had To Look Away When This Happened On Live TVFinanceChatterFactableThis Is What Historical Figures May Have Really Looked LikeFactablezenherald.com20 Rules Genghis Khan’s Army Had To Live Byzenherald.comItsTheVibeThe Cutest 1980’s Stars Are Now In Their 60s, This Is Them NowItsTheVibemoneywise.comKirkland Products That Are Actually Big Brands In Disguisemoneywise.comQuizscape8 Out Of 10 Men Fails This Car Engine Quiz. Can You Pass It?Quizscape Read This NextRicky Schroder Calls Foo Fighters’ Dave Grohl ‘Ignorant Punk’ forThe WrapCNN’s Brian Stelter Draws Criticism for Asking Jen Psaki: ‘What Does theThe WrapDid Donald Trump Wear His Pants Backwards? Kriss Kross Memes Have AlreadyThe WrapHarvey Weinstein to Be Extradited to California to Face Sexual AssaultThe WrapPink Floyd’s Roger Waters Denies Zuckerberg’s Request to Use Song in Ad:The Wrap’The View’: Meghan McCain Calls VP Kamala Harris a ‘Moron’ for BorderThe Wrap’Sex and the City’ Sequel Series at HBO Max Adds 4 More ReturningThe WrapNewsmax Rejected Matt Gaetz When Congressman ‘Reached Out’ for a JobThe Wrap2 HFPA Members Resign Citing a Culture of ‘Corruption and Verbal Abuse’The Wrap CAPITA yesterday said revenues would be hit harder by government spending cuts than it previously expected, casting a shadow over predictions that robust support services firms stand to gain from the era of austerity.Since the coalition was formed in May, many large support services firms such as Capita and rival Serco have sounded bullish about their ability to gain market share because of increased levels of government outsourcing.“We indicated that pressures on public spending might potentially affect growth in the short term… This is now occurring and will subdue revenue growth in the second half of the year more than previously anticipated,” Capita said.Capita, which processes 25m life, savings and pensions policies and handles complaints for the BBC, said revenue growth would be modest because many existing contracts would not be renewed or offset with new deals, and because fewer contracts had been signed in the second half.The support services sector’s largest players had been expected to cash in on the cuts because of their penetration, size and diverse list of services. last_img read more