Capita’s bid pipeline dries

Ollie Gordon
UK OUTSOURCING firm Capita saw its share price fall 6.51 per cent to 1,048p yesterday after it revealed recent contract losses and a decreasing bid pipeline.

The company said it had obtained £1.63bn in new contracts in the year to date, dropping from £2.9bn in the same period last year. Its bid pipeline also dropped to £4.1bn from £5.7bn in July.

Capita also announced that group finance director Gordon Hurst would retire in February.