Company
Serco Group PLC
LON:SRP
Serco Group PLC supports governments, agencies and companies by offering operational, management and consulting expertise in the aviation, defense, education, health, home affairs, local government, nuclear, science, technology, transport and commercial sectors.
179 stories · page 1 of 2
FTSE 100 slumps 90 points; Bank of England holds interest rate
The FTSE 100 took a beating on Thursday as central bank calls came into focus
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Market movers: UK OIl & Gas PLC falls after discounted placing
A look at some risers and fallers on the market on Monday.
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FTSE 100 finishes strongly as investors focus on valuations
London's blue chip index made strong gains, closing 122 points higher
Serco buys European immigration services provider ORS for up to £39mln
Swiss-based ORS generated CHF110mln in revenue in 2021
Serco raises full-year profit forecast again after better-than-expected first half
“We did much better in the first half than we expected in January, and as a consequence also expect to do better than we originally anticipated in the full year,” said chief executive Rupert Soames
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Market movers: Hikma down as Generics guidance lowered
A look at some risers and fallers in the market on Thursday.
Serco raises full-year guidance as it replaces test & trace revenues
Helped by some favourable exchange rate movements, Serco expects underlying trading profit this year will be around £30mln higher than previously expected
ESG bandwagon rolls on but to what effect?
Responsible investing is a potnetial threat to national security reckons Serco's boss
Serco Group shares get a day-two bump from leading City bank after upgrading its guidance
Barclays Capital expects the shares to motor higher
Serco ups profit forecast as Covid spike boosts test & trace income
Work on Covid support schemes in the UK and Australia are running for longer and with higher volumes than expected.
Serco paid around £700mln so far for Test & Trace, says minister
Serco runs sites and organises contact follow-ups for the UK Test & Trace service
Serco lowers debt guidance after strong cash flows in the first half
Serco acknowledged COVID-related revenues would tail off - presumably because of success in controlling the spread of the virus
Serco first half sales get test & trace boost
Without the Covid-19 work, sales were up by about 8%
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Serco and Dixons Carphone among major mid-week updates, US ADP jobs data eyed
Also in the company diary for Wednesday are transport group Stagecoach and consumer lender Non-Standard Finance
Serco boss defends test & trace performance as contract extended
"We are proud of the part we have played in building and operating the UK's highly successful COVID-19 testing infrastructure"
Serco ups profit forecast as 'test and trace' work soars
Demand will continue for longer in the second half than previously anticipated
Test and Trace firm Serco wins £350mln UK government jobs contract
Serco said the contract was awarded after a competitive process, with most income to be generated when people find a job
Serco lands support services contract with Canadian Air Force base
The deal for the Five Wing Canadian Forces Base in Goose Bay, Central Labrador, will run for an initial term of 10 years with a ceiling value of around £400mln
Serco brings back the dividend after cashing in with test & trace
The controversial outsourcing company, heavily criticised for its handling of the UK’s Test & Trace coronavirus programme, last paid a dividend to shareholders in 2014
Serco bolsters US defence business with US$295mln WBB acquisition
“WBB takes our North American defence revenues to around US$1.1bn and gives us credible positions in other parts of the market"
Serco Group confirms profits to soar helped by Test and Trace contract
Serco will pay a bonus of £5mln or £100 each to staff for their efforts over the past year but there was no dividend
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Serco may leave investors hanging whilst COVID tracing make headlines
Serco is among fewer names in the diary as Christmas gets ever closer, though attentions will also be on the Bank of England.
Serco Group confirms loss of UK nuclear warheads contract
The outsourcing group has been part of a consortium handling the contract since the year 2000
Serco ups profit guidance, mulls restarting dividend payments after UK test and trace contract extended
The extensions to its contracts to provide test sites and call handlers for test and trace are “an indication of our customer's satisfaction with the quality of work we have delivered”, the outsourcer said
Serco taps US private placement market
The company has raised £154mln through the issue of loan notes at a lower interest rate than its current loan notes, which are set to mature next year
Serco sinks amid uncertain outlook despite profit surge in first half
The company said uncertainty in its business is “likely to persist well into 2021” as the fallout from the pandemic continued
Serco a ‘unique asset’ exposed to international government contracts, says Berenberg
The broker also said rising defence spending “in line with deteriorating geopolitics" should provide the company with “attractive avenues for growth”
Serco reinstates full year guidance following strong first half performance
The outsourcing firm said its first-half performance had been driven partially by the Naval Systems Business Unit purchased from Alion in North America last August
Serco expects “continued demand” amid coronavirus pandemic
The public services group will not propose a final dividend for 2019 to save cash
Serco Group wins Perth hospital contract extension
Rupert Soames, chief executive, said: "Fiona Stanley Hospital is an outstanding facility delivering a world-class service.
Serco reinstates dividend as orders flood in
Revenues at the outsourcer jumped by 15% to £3.25bn, while profits were 9% higher at £80.7mln.
Serco wins contract to manage Gatwick immigration removal centres
The outsourcer, which has experience running immigration centres in the UK and Australia, says the contract will begin on 21 May
Serco confident growth will carry over into 2020
Revenues this year to December will grow 14% while underlying trading profits will improve by 30%
Investments and investor services
FTSE 100 closes in the red as traders await first US rate cut since recession
Investors are expecting a cut of 0.25% in the benchmark short-term rate
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Lloyds to post weaker profits as PPI claims deadline looms
The day ahead includes interims from Lloyds and Taylor Wimpey along with the Federal Reserve's latest policy decision
MoD to pay Serco £10mln to settle legal dispute over contract awarded to Capita
Serco said the agreement will allow the MoD to move forward with modernising the fire and rescue service
Serco pays £19.2mln to draw line under electronic tag scandal
A Serco subsidiary understated how much it was earning from an electronic tag contract with the Ministry of Justice for a period up to 2013
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e-therapeutics jumps as share overhang created by Woodford’s need to liquidate assets further cleared
A look at some of the biggest risers and fallers in London on Thursday
Serco grows sales at top end of expectations after five years of decline
The defence contractor and business process outsourcer said revenues for the full year were likely to be towards the top of its £2.9bn-£3bn range
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Serco's acquisitions and contract wins will be in focus on Thursday
Serco has already flagged that it expects its strong order intake to boost revenue in 2019 after several years of declines.
Builders and building materials
Could Kier become the next takeover target after Babcock rebuffs Serco offer?
Valuations of UK contractors have been squeezed in the past year amid concerns they could face the same fate as collapsed Carillion
Babcock rejects second approach from rival Serco
Babcock said it received an “unsolicited and highly preliminary proposal” from Serco for a potential all-share combination of the two companies.
Peel Hunt upgrades Serco to ‘add’ on the back of “attractive” naval engineering acquisition
The broker said the £173mln acquisition of the Naval Systems Business Unit of defence group Alion, announced last month, would be a “very good fit” for Serco’s existing business
Builders and building materials
Kier gives short-sellers a boost after profit warning sends shares crashing
About 4.75% of Kier’s shares are on loan to short sellers, according to website www.shorttracker.co.uk
Serco upgraded by RBC after acquisition of US naval engineering business
RBC raised its rating on Serco to ‘outperform’ from ‘sector perform’ and lifted its target price on the shares to 150p from 140p.
Is London's fickle funding appetite part of Lasker's 'disastrous' cycle?
Stock market sage Bernard Lasker once said: “I can feel it coming...A whole new round of disastrous speculation, with all the familiar stages in order: blue-chip boom, then a fad for secondary issues, then an over-the-counter play, then a g
Serco launches £130mln cash call to fund acquisition of US naval engineering business
The firm said it would pay US$225mln (£173mln) for the Naval Systems Business Unit of defence firm Alion, which provides services to a number of armed forces including the US and Canadian navies
Serco wins contract with the US Air Force
The US Air Force's NexGen IT programme supports the Air Force Civil Engineering community in its work to improve efficiency and effectiveness
Serco edges higher after winning a contract extension for Dubai Metro
Serco first began operating and maintaining the initial ten stations on the Red Line from the official opening of the Dubai Metro in 2009
Interserve awarded £660mln in public contracts in lead up to collapse, says union
Mitie has reportedly approached Interserve's administrators to express interest in buying the outsourcer's support services arm for between £100mln and £150mln
Serco lands A$115mln contract to manage maximum-security prison Down Under
The contract is for an initial seven years and can be extended by up to five years
Serco Group picks up final salary pension admin contract in US
Contract is worth up to US$200mln and might run for five years
FTSE 100 closes in the red as US stocks take a hit; Centrica tanks
Risers on the Footsie were outnumbered 3 to 1 by fallers
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Barclays to round off trio of UK banking results on Thursday
Barclays will be a highlight in Thursday's schedule.
Serco Group adds £560mln Aussie defence contract to workload
Initially to run for six years from July, the contract has up to four one-year extensions.
Serco in talks to become sub-contractor in Bupa deal with Australian Defence Force
Peel Hunt maintained a ‘hold’ rating and target price of 100p on Serco
Serco upgraded to ‘Buy’ by Shore Capital following £1.9bn contract win from UK government
In a note to clients, the broker said the new contracts brought “greater visibility of profit improvement and the return to positive cash generation”
Mears bags £1bn asylum housing contract from UK government
The ten-year contract will see Sears manage thousands of houses occupied by asylum seekers who are waiting for their claims to be processed
Serco wins largest ever contract from UK government worth £1.9bn
The government is paying big bucks to Serco to manage 5,000 properties occupied by asylum seekers who are waiting for their claims to be processed
Serco upgraded to ‘Hold’ by Peel Hunt as it ups EPS forecasts on back of lower tax rate
The broker forecast EPS for the full year at 5.2p, with the primary driver being a lower effective tax rate which fell to 25% from 29% reflecting an “improvement in and mix of profitability”
Serco shares jump as it maintains upgraded 2018 guidance after strong order intake
“We expect to deliver another year of strong order intake in 2018, driven in particular by our international businesses ..." said chief executive Rupert Soames
Investments and investor services
FTSE 100 reverses into close to finish lower as ECB ends QE stimulus program
FTSE 100 closed the day down; Mid-cap cousin FTSE 250 was also off - down over 170 points
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Can Sports Direct avoid the high street gloom when it updates the market on Thursday
Sports Direct and Ocado will be the next retailers in the spotlight as they both update the market.
Serco inks £135mln in contract extensions with Peterborough and Lincolnshire councils
The new extensions, worth £105mln and £30mln respectively, involve the provision of customer services, IT, and payroll functions
Serco upgraded to ‘Sector Perform’ by RBC as it now sees 2019 forecasts as “achievable”
The Canadian bank said with the 2019 forecasts the risk of “short-term disappointment” was low, adding that it expected an in-line update from the outsourcer on Thursday
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All eyes on UK parliament as Brexit deal circus reaches final act
Aside from the crucial Brexit vote, the Week Ahead will also bring UK labour market data, an ECB council meetings and updates from TUI, WPP, Dixons Carphone, Superdry, Ocado and BAT
Interserve moves to reassure investors as ex-shareholder claims it ‘could be next Carillion’
The “large”, unnamed ex-shareholder told the BBC that he wasn’t sure Interserve could survive much longer without a fresh injection of cash, which he doesn’t think will be forthcoming
Investments and investor services
FTSE 100 keeps nose above water to finish in positive territory
Footsie finished Wednesday nearly eight points higher at 6,962.
Investments and investor services
Barclays treading water as activist investor pressure builds
The third quarter banking results season is upon us and Barclays is set to open the batting, more in the style of Keaton Jennings than Alastair Cook, according to many pundits
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Third-quarter updates from Barclays, Lloyds Banking Group, and RBS all due in coming week
Aside from the banking trio, updates are also due in the week ahead from the likes of WPP, Whitbread, International Airlines Group, Ryanair, Glencore and Antofagasta
Serco shares soar after Citi upgrades on forecast-beating profit expectations
Citi analysts expect Serco to deliver £10mln of further cost savings in 2019 after its better-than-expected cost-cutting led it to boost its 2018 profit outlook
Outsourcer Serco sees forecast beating annual profits
The company expects annual trading profit to come in at between £90mln and £95mln, up from previous guidance of around £80mln
Serco revenues dip again as contracts unwind
Contract attrition was cited for the drop in sales to £1.37bn
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FTSE 100 joins European stocks to close lower as trade worries weigh
FTSE 100 lost almost 77 points to close the day at 7,575, while FTSE 250 was also down, off over 252 points at 20,548
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Bank of England widely expected to hike rates but will the decision be unanimous?
A month ago, a rate hike of a quarter of a point seemed nailed on. Most economists still think it is the most likely outcome but the decision may not be unanimous given some recent iffy economic data
Capita's contract with NHS England a 'shambles', say MPs
Capita apologised for “unacceptable failings" in relation to the delivery of its contract with NHS England
Capita weak on report UK MoD has suspended military firefighting services contract award
Reuters said the Capita contract suspension was made after the FTSE 250-listed firm’s rival Serco PLC began a legal challenge to the MoD decision
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FTSE 100 starts week by ending lower as geopolitical woes hit sentiment...again
In London, FTSE 100 shed 23 points to 7,655, while FTSE 250 shed over 155 points at 20,770