Home Business NewsBusiness Capita boss set to quit after profits tumble

Capita boss set to quit after profits tumble

2nd Mar 17 11:19 am

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Capita which is the outsourcing company that deals with the London congestion charge, has said its chief executive will be stepping down due to a fall in profits.

The firm has said Andy Parker will step down from the role later this year after a replacement is found.

This comes as it was revealed that annual pre-tax profits had fallen by a massive 33 per cent to £74.8m.

Capita is in charge of collecting the BBCs licence fee, it’s currently being investigated due to the way its been handling it.

As well as this the company is set to drop out of the UK’s FTSE 100 list due to its share price falling drastically.

Thursday saw the company’s shares drop by 1.2 per cent in early trading.

Parker said that 2016 has been a “challenging year” and that the company had “delivered a disappointing performance”.

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