Capita (LON:CPI) updated the market this morning with an RNS on "transformation, capital structure, funding and trading outlook". As I type the shares are down 145p at 203p.
Matters are clearly as bad as described and very probably getting worse. There is no hope offered anywhere at all.
CPI may fancy raising £700 million to bolster its balance sheet. I doubt if that is enough and, even if it were, wonder what would be the point in subscribing for new equity. Yes, it's that bad.
by Jim Mellon | Economics |6 mins. to read Inside the mind of the Master Investor: Jim reports back on the JP Morgan Biotech conference and warns of the coming bear market in bonds.
Material contained within Master Investor Magazine and its website is for general information purposes only and is not intended to be relied upon by individual readers in making (or refraining from making) any specific investment decisions. Master Investor Ltd. does not accept any liability for any losses suffered by any user as a result or any such decision.
