Woodford and Barnett hit as Capita shares plunge 45% following profit warning

Shares at lowest price since 2003

Shares in outsourcing firm Capita, held by managers Neil Woodford and Mark Barnett, have plummeted more than 45% this morning after the troubled firm issued another profit warning.

Shares in the FTSE 250 company, which was demoted from the FTSE 100 last year, fell 45% to 190p; its lowest price since January 2003. They have since risen slightly to 204p.  The cause of the drop was a further profit warning by the company, which said it now forecasts pre-tax profits of £270m-£300m in 2018, far below expectations of around £400m. It also suspended its final dividend.  In addition, the group is planning to raise £700m from investors to strengthen its balance sheet after a series of profit warnings last year. Jon Lewis, who took over as chief executive two months ag...