Public Sector Risk Assessment – Capita (20 June)

Capita, a UK outsourcing group, obtained the highest possible risk rating in an internal assessment for the Ministry of Defence (MOD) conducted by financial analytics experts from Company Watch just days before the company was awarded a £500 million contract over 10 years to deliver fire and rescue services on military sites.  The assessment by Company Watch gave Capita a risk score of 10 out of 10 (the higher the figure, the greater the perceived level of financial distress). The report also measured Capita on a separate health metric score, of three out of 100. (Company Watch advises that companies that score 25 or less should be placed in a red “warning area” by Whitehall officials as they may be “vulnerable and should be viewed with care”). Risk ratings in the Public Sectorare receiving significant public attention in the UK since in January 2018, Carillion, at that time the MoD’s largest supplier, collapsed even though it had won large government contracts in the months before it went into liquidation.

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