Capita cavalier with customers causes shares crash

Exposing his peremptory attitude to his clients and deflecting from his own insufficiencies as a Chief Executive, Capita’s Andy Parker blamed the 28% plunge in Capita’s share price on the Co-op Bank not paying for work done and TfL for over-complicating the IT upgrade to London’s congestion charging system.

Shares tanked by 259p to a three-year low for the beleaguered group, wiping £1.7 billion off its value. Parker also deflected the blame from himself to the Brexit decision for slowing down deals, despite the contract value of the bid pipeline rising 8% to £5.1bn.

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