Woodford to stand by 'poor investment' Capita

Reacts to share price drop

clock • 2 min read

Neil Woodford has spoken out about holding outsourcing company Capita, one week on from the company seeing its shares plunge by almost half after issuing a profit warning.

The manager, who is the third largest shareholder of the company through positions in both his £7.7bn Woodford Equity Income and £690m Woodford Income Focus funds, commented on the developments in a blog post two days after the profit warning was issued. At the start of last week, Capita represented 0.8% and 1.3% of the respective funds. However, Woodford said he would not be selling his holdings in the company, which has suffered a string of profit warnings in recent years, with its share price dropping 45% last Wednesday, as he believes there is "a clear plan and project underway" t...

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