果冻传媒

Shares in Capita (CPI) fell 4 per cent this morning after the High Court鈥檚 refusal to dismiss a 拢4mn data breach claim added to concerns regarding a Cabinet Office emergency intervention in its pension division.

The outsourcer had tried to strike out nearly 4,000 claims, relating to the 2023 cyberattack that exposed the personal and financial information of 6.6mn people, as an 鈥渁buse of process鈥�, arguing the victims鈥� lawyers were exaggerating the distress caused.

But senior judge Master Dagnall refused, calling a dismissal 鈥渄raconian鈥� according to various reports. This means the case can now proceed to a full trial. On top of potential court payouts, the Information Commissioner鈥檚 Office had already fined Capita 拢14mn for this breach.

This comes just days after the government said it had sent a 鈥渞ecovery taskforce鈥� into Capita鈥檚 civil service pension division. The Cabinet Office said 150 government staff are now effectively supervising its 拢239mn Civil Service Pension (CSPS) contract to address 鈥渦nacceptable鈥� service levels, including huge backlogs and delays.

Capita took over administration of the pension scheme in December. Trade publication Civil Service World reported Capita has been hit by (so far undisclosed) financial penalties because of its performance in the first month that the CSPS contract went live.

Pan African Resources (PAF) has announced first-half earnings almost triple that of the year before, as it has increased gold output alongside record prices. The miner said earnings per share for the six months to 31 December would be between 7.18垄 (5.24p) and 7.43垄, up from 2.5垄 the year before.

Under South African listing rules, companies have to report as soon as they know upcoming earnings will be 20 per cent higher or lower than the previous year. The shares rose 4 per cent on update to 145p, taking the price close to the level reached in late January before a gold selloff. 

Last month, Pan African said it had increased first-half production by 51 per cent, to almost 130,000 ounces (oz). The higher output came from increases at existing mines and the contribution of a new tailings retreatment asset in South Africa and a new project in Australia, called Tennant Mines.  

Analysts see sales and profits soaring as a result of the added gold and record prices, with the former climbing from $540mn (拢395mn) to over $1bn. Pan African has already announced its first interim dividend of 0.74 US cents. The miner has previously paid a single annual dividend. AH

PZ Cussons (PZC) shares leapt 11 per cent this morning, after a strong performance in Nigeria prompted the soap maker to raise its profit guidance for a second time. 

The Manchester-headquartered group said that like-for-like revenue rose by 9.5 per cent over the first half, though much of this was driven by growth of 28 per cent in Africa. Like-for-like revenue growth excluding Africa was 3.2 per cent. 

As a result, management guided to full-year adjusted operating profit between 拢53mn to 拢57mn, up from 拢50mn to 拢50mm previously. 

The board also confirmed that PZ Cussons鈥� strategic review is now complete, and aside from the sale of its 50 per cent stake in PZ Wilmar, a 鈥榥on-core鈥� palm oil refinery in Nigeria, the group will aim to grow its Africa business further. 

鈥淧Z Cussons鈥� decision not to sell Africa at a fire sale price looks increasingly sensible,鈥� said Investec analyst Matthew Webb. The region currently contributes 27 per cent of sales.

One of the first actions of plant hire group VP鈥檚 (VP.) new chief executive has been to warn that profits for the current financial year will be much lower than expected.

Alice Woodwark, who took up the role last week, said that after a 鈥渄isappointingly muted January鈥� and a slower than expected pace of awards from customers in the water industry, VP now expects an adjusted pre-tax profit of between 拢26mn-拢29mn for the current financial year.

At the half-year reporting stage at the end of November, it had said profit should be in line with brokers鈥� forecasts of about 拢37.3mn. Broker Shore Capital slashed its profit forecast by 30 per cent to 拢26mn. The shares fell by 10 per cent.