Capita makes no more provisions for Arch cru

Outsourcing giant Capita has made no further provision for Arch cru liabilities in its latest set of results.

The FTSE 100-listed group, publishing its full-year numbers, said in its results that it had made a provision of £0.6m in relation to Arch cru at the start of 2012, all of which it paid out. However, at the end of 2012, the group has made no further provision to cover future costs caused by the failed investment scheme of which it was ACD. Late last year, the FSA publicly censured Capita Financial Managers (CFM) - part of Capita - for its role in the Arch cru affair. It noted its failings were significant, although conceded they reflect only a part of the overall picture in relatio...