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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 Group -
Orders rose £5.4bn over 2019

Serco PLC (LON:SRP) restated its dividend after profits and dividends climbed strongly in 2019.

Revenues at the outsourcer jumped by 15% to £3.25bn, while profits were 9% higher at £80.7mln.

Rupert Soames, chief executive, added the group also went into 2020 with an order book of £14.1bn after a record intake of £5.4bn over the past twelve months.

Broker Liberum said the results were in line with estimates, though net debt was lower than expected at £215mln.

For the current year, the broker expects earnings per share of 7.2p (6.2p).

The dividend for the year was 1p and the shares rose 1% to 151.9p.

Quick facts: Serco Group

Price: 135.7 GBX

LSE:SRP
Market: LSE
Market Cap: £1.67 billion
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