Capital plc swings to £28.15 million of loss due to COVID-19

Capita plc (LON: CPI) acknowledged the impact of the Coronavirus pandemic on its financial performance on Tuesday as it revealed to have swung to £28.5 million loss in the first six months of the current fiscal year. The company also warned that it was unlikely to see sustainable cash flow in the next two years. In the same period last year, Capita had recorded £31.2 million of profit. According to CEO Jon Lewis of Capita: “This crisis has come in a pivotal year for Capita when we had expectations of beginning to generate revenue growth and sustainable cash flow. Instead,