IFRS15 early adoption

IFRS15 early adoption

Capita plc is today re-confirming its early adoption of the new revenue standard IFRS15 from 1 January 2017, ahead of mandatory adoption on 1 January 2018. This is an accounting change and has no impact on the cash generation or operating performance of the business.

Capita will therefore be reporting its half year results for the six months to 30 June 2017 under IFRS15, and will restate its 2016 results in accordance with the new standard. Adopting IFRS15 requires additional preparatory work. This and the restatement are progressing well, though IFRS15 adoption will affect the timing of the publication of Capita’s half year results. An amended reporting timetable is therefore outlined below:

13 June 2017                       AGM statement and trading update
7 September 2017               IFRS15 teach-in
21 September 2017             Half Year Results 2017
End Nov/Early Dec 2017     Pre-close trading update
1 March 2018                       Full Year Results 2017

These dates will be published on www.capita.com/investors and further details on the teach-in will be provided in due course.

ENDS

For further information:

Capita plc
Tel: [phone]
Shona Nichols, Executive Director, Communications
Andrew Ripper, Head of Investor Relations

Media enquiries

Powerscourt
Tel: [phone]
[e-mail]
Victoria Palmer-Moore, Peter Ogden and Ben Griffiths

Note to editors:

Capita is a leading UK provider of technology enabled customer and business process services and integrated professional support services. With 73,000 people at over 450 sites, including 98 business centres across the UK, Europe, India and South Africa, Capita uses its expertise, infrastructure and scale benefits to transform its clients' services, driving down costs and adding value. Capita is quoted on the London Stock Exchange (CPI.L), with 2016 underlying revenue of £4.9 billion

Further information on Capita can be found at: www.capita.com.