March 14, 2019 / 7:09 AM / 6 months ago

Capita 2018 pretax profit down 26 pct, seen flat in 2019

LONDON, March 14 (Reuters) - Britain’s Capita posted a 26 fall in 2018 profit before tax, slightly ahead of guidance, as it battles to turn around its UK-dependent business in a sluggish economic climate.

Capita, which provides business services to both public and private sector, said profit before tax was 282.1 million pounds ($374.3 million) and it was on track for its 2020 target to achieve double-digit margins. Revenues fell 5 percent to 3.87 billion pounds

“Our transformation still has some way to go. But I am very pleased with our progress,” said Chief Executive Jon Lewis.

$1 = 0.7537 pounds Reporting by Elisabeth O'Leary, Editing by Paul Sandle

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