10th May 2023 11:05
(Alliance News) - Capita PLC said that it expects a hit of up to GBP20 million after a cyber incident last month.
The outsourcing company said the hit comes from lost professional fees, recovery and remediation costs. Capita's forensic investigations found that just 0.1% of its server estate was subject to the attack, however. Capita said it has also taken steps to bolster its cybersecurity.
In total, it expects to suffer exceptional costs in the range of GBP15 million and GBP20 million from the attack.
The incident, which blocked employee access to internal Microsoft Office 365 applications, was first reported by Capita last month.
Capita said its underlying trading performance "remains in line with expectations", meanwhile.
In the first four months of 2023, adjusted group revenue was up by 4.8% for Core Capita, Capita Public Service increased by 5.0%, and Capita Experience by 4.5%. Capita reported in-year revenue wins of GBP449 million over the four months,
Capita's in-year revenue in the first four months of 2023 increased by 16% to GBP449 million.
Capita Public Service serves government departments, while the Experience arm focuses on sectors such as telecommunications, media, technology, retail and energy. Capita Portfolio is focused on property, people and software.
Capita shares were trading 2.1% lower at 33.60 pence in London on Wednesday morning. The stock is up 54% over the past 12 months.
By Will Neill, Alliance News reporter
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