Serco sees underlying trading profit rise of 35%

Serco sees underlying trading profit rise of 35%
Published: Dec. 17, 2020 at 3:02 a.m. ET
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Serco Group PLC said Thursday that it expects underlying trading profit for 2020 to rise around 35%, and named Director of Finance Nigel Crossley as its next chief financial officer.
The support-services company expects underlying trading profit--a metric that excludes exceptional costs--to be in the range of 160 million to 165 million pounds ($216.1 million-$222.9 million) for 2020 compared with GBP120.2 million for 2019. Revenue is set to rise 19% to GBP3.9 billion.
For 2021, the company expects revenue to be GBP4.1 billion, while underlying trading profit is expected to be around GBP165 million.

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