Capita share price jumps on following promising trading update

Outsourcing company Capita has seen its share price jump this morning on the back of a promising trading update.

At 8.35am, shares were up 12.08 per cent at 617p, having reached a morning high of 634.50p.

The group said it had "bedded down our new divisional management", after chief executive Andy Parker fell on his sword earlier this year following a period of disappointing profits.

The business has sold some of its struggling niches, offloading its specialist recruitment branch to turnaround private equity house Endless just weeks ago.

"The larger disposal of the Capita Asset Services businesses is proceeding well and is on track to conclude in the second half of 2017," the company said in a statement, adding that the sales would result in a significant deleveraging.

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