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Serco confirms guidance
Tue, 07 Feb, 2012
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Serco confirms guidance
Wed, 25 Aug 2010, 06:49:00
Outsourced services provider <b>Serco</b> said it expects strong organic revenue growth in 2010 after reporting in-line half year figures. Adjusted pre-tax profits rose to £110.2m in the six months ended 30 June compared with £92.3m last time. The figure matched Charles Stanley's forecasts and is slightly better than the £104m Panmure Gordon had pencilled in. Revenue increased to £2.14bn from £1.95bn in the same period last year. Serco upped its interim dividend to 2.20 pence per share compared with 1.85 pence previously. In 2010, the group expects an increase in revenue to about £5bn and a rise in its adjusted operating profit margin to around 6.3% by the end of 2012. Chief executive Christopher Hyman said: "Many of our government and commercial customers are seeking to reduce costs. We have the necessary skills to help them, given our broad portfolio of markets and capabilities, and our close customer relationships, as existing markets continue to develop and new markets open up."
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