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