Reports claim that shares at the company are down by over a fifth

Capita reported a larger-than-expected annual loss yesterday (06/03/2024), which the outsourcers accredited to a data breach suffered in March 2023.

According to the Financial Times, “the results were hit by £25m of costs tied to a series of cyber incidents as well as the expense of exiting various businesses.”

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What information was taken?

The data breach compromised the details of its private sector pension scheme members.

Capita’s Chief Executive Adolfo Hernandez, said: “We took extensive steps in the immediate period after the incident to recover and secure the exfiltrated data.”

Bloomberg’s analysts have predicted an expected loss of £58m. Shares in Capita “closed down 23 per cent, shrinking its market capitalisation to £266m”

Mr Hernandez continued: “Despite significant rationalisation over the past few years, our cost base is too high.”

Did Capita suffer any other cyber attacks?

In a different cyber incident at Capita, files containing local council benefit payments were left exposed on an “unsecured Amazon data bucket.”