Capita shares plunge 11 per cent as cyberattack costs reach £25m

04/08/2023 | City A.M.

Investors in Capita were met with bad news on Friday morning, as the company announced that it expects a recent data breach to cost it up to £25m. The government contractor, which specialises in data and IT outsourcing, revealed that a major cyberattack in March had prompted the increase in estimated costs. As the investigation comes to a close, the figure has been revised from earlier projections of £15-20m. The news caused shares in Capita to drop by 11.4 per cent, with the decline increasing to 17 per cent by late afternoon.

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