Proactive Investors - 7.53am: Cyber attack to cost Capita up to £20mln
Capita PLC (LON:CPI) expects to incur one-off costs of around £15mln to £20mln associated with the recent cyber incident, comprising specialist professional fees, recovery and remediation costs and investment to reinforce the group's cyber security environment.
Capita has also taken further steps to ensure the integrity, safety and security of its IT infrastructure to underpin its ongoing client service commitments.
The outsourcing specialist said based on its own forensic work and that of its third-party providers, that some data was exfiltrated from less than 0.1% of its server estate.
Trading at the group remains in line with expectations.
Adjusted group revenue for core Capita for the first four months of 2023 was up by 4.8% year-on-year with Capita Public Service up by 5.0% and Capita Experience up by 4.5%.
Sales performance has been strong over the first four months of the year with in-year-revenue wins of £449m, up 16% on the first four months of 2022, Capita said.
Melrose trading "materially ahead" of expectations
Melrose PLC (LON:MRON) which recently spun out Dowlais Plc (LON:DWL) was also in a positive frame of mind.
The company said trading was materially ahead of expectations with significant growth in revenue, profit and margin being achieved.
Melrose is trading materially ahead of expectations with significant growth in revenue, profit and margin being achieved.
For the first four months of this year revenue was up 19% on the same period in 2022, with Engines showing the fastest momentum, up 28%, and Structures up 14%.
The firm issued new guidance for the financial year 2023 - revenue between £3.35bn to £3.45bn, adjusted operating profit between £340mln and £360mln and adjusted EBITDA between £495mln and £515mln.
JD Wetherspoon cheers investors
More positive news. J D Wetherspoon PLC (LON:JDW) said it was on course for record sales this year as customers continued to flock back to pubs following the pandemic.
As a result, the company expects profit in the current financial year to be towards the top of market expectations, it said in a statement.
The pub chain, run by flamboyant businessman Tim Martin, reported like-for-like sales increased by 9.1% in the 13 weeks to April 30, compared to 2019, leaving year-to-date sales 6.4% higher compared to the same year.
Sales in Easter week were the highest-ever for the company - and sales in the current financial year are likely to be a record, JD Wetherspoon said.
Compared to financial year 2022, like-for-like sales increased by 12.2% in the third quarter and by 12.7% year to date.
The company said the May bank holiday, was "exceptionally strong, including our busiest-ever Saturday," with the Coronation "slightly less strong, with a noticeably quiet Saturday."
Martin said: "Sales in the last quarter have continued their positive momentum, although inflation, especially in labour, energy and food costs, remains a more intractable issue."
"In order to bear down on inflation, political parties should encourage free enterprise, rather than a reliance on additional regulations."
"A lack of understanding, among some senior politicians, about the need to encourage a successful free market economy, presents a real threat to the future prosperity of the country," he added.