Company News 

Capita changes accounting rules early

Capita changes accounting rules early

Shares in outsourcer Capita (CPI) fell sharply this week following the release of restated results, outlining the group’s performance according to the IFRS 15 accounting standard, which it will soon adopt. The differences are stark. Under the new rules, underlying revenue for the 2016 full year would be 5 per cent lower, operating profit would be 30 per cent lower and the company moves to having net liabilities of £553m, from net assets of £483m before.

To continue reading, subscribe today

and enjoy unlimited access to the following:

  • Tips of the Week
  • Funds coverage
  • Weekly features on big investment themes
  • Trading ideas
  • Comprehensive companies coverage
  • Economic analysis
Subscribe to Investors Chronicle

Related topics

Subscribe today

Full access for just £3.37 a week:

• Tips and recommendations - to beat the market 
• Portfolio clinic & Mr Bearbull - build a well-planned portfolio 
• Expert tools - track and manage investments effortlessly
• Plus free delivery to your home or office

Subscribe Now