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Capita reports £107m loss due to data breach

Reports claim that shares at the company are down by over a fifth

Capita reported a larger-than-expected annual loss yesterday (06/03/2024), which the outsourcers accredited to a data breach suffered in March 2023.

According to the Financial Times, “the results were hit by £25m of costs tied to a series of cyber incidents as well as the expense of exiting various businesses.”

Read the full story here

What information was taken?

The data breach compromised the details of its private sector pension scheme members.

Capita’s Chief Executive Adolfo Hernandez, said: “We took extensive steps in the immediate period after the incident to recover and secure the exfiltrated data.”

Bloomberg’s analysts have predicted an expected loss of £58m. Shares in Capita “closed down 23 per cent, shrinking its market capitalisation to £266m”

Mr Hernandez continued: “Despite significant rationalisation over the past few years, our cost base is too high.”

Did Capita suffer any other cyber attacks?

In a different cyber incident at Capita, files containing local council benefit payments were left exposed on an “unsecured Amazon data bucket.”

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