Business
Annual Financial Report 2019
Annual Financial Report 2019.
About this update from Capita Plc
[{"type":"text","content":"\n \n 9 March 2020\n Capita plc\n (the \"Company\")\n Annual Financial Report\n In compliance with Rule 4.1 of the Disclosure Guidance and Transparency Rules (“DTRs”), the Company announces the publication of its Annual Financial Report for the year ended 31 December 2019. Pursuant to Listing Rule 9.6.1, a copy of this document has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM. The document is also available on the Company's website: www.capita.com/investors.\n Additional Information\n A condensed set of the Company's financial statements and information on important events that have occurred during the financial year and their impact on the financial statements, together with details of related party transactions, were included in the preliminary results announcement released on 5 March 2020. That information, together with the information set out below, which is extracted from the Annual Report and Accounts 2019, is provided in accordance with DTR 6.3.5. This information should be read in conjunction with the Company's preliminary results announcement. This announcement is not a substitute for reading the full Annual Report and Accounts 2019.\n Principal risks\n A revised assessment has been undertaken by the executive and the Board to assess the principal risks facing the Group and consideration given to those that threaten the business model and could impact on future performance and strategic objectives. As described in the CEO and CFO reviews, while much work has been carried out to improve controls across the business, there is more to be done. As the transformation of Capita has progressed, it has become clearer that continued focus on people, culture, systems, processes and controls is required – to drive greater awareness and more consistency in risk identification, management and mitigation. In addition, there is more work to do to update our service and product offerings, as well as our capability to engage effectively with our clients to drive revenue growth. We are having to invest more than we initially thought to fully transform and grow Capita.\n The Board has assessed the emerging and principal risks and receives regular updates. This remains a key focus area for the Board, its committees and the executive.\n \n \n Purpose : ...