Serco Guides For Profit And Revenue Rises In 2020 And 2021
Thu, 17th Dec 2020 11:03
(Alliance News) - Serco Group PLC on Thursday said it expects to report a stronger performance in 2020, fostering confidence in continued growth in 2021.
Shares in the Hampshire-based outsourcer were up 3.4% at 124.10 pence on Thursday in London.
For 2020, underlying trading profit is expected to rise by around 35% to between GBP160 million and GBP165 million, compared to GBP120.2 million in 2019.
This is on revenue that is anticipated to grow by 19% year-on-year to GBP3.9 billion from GBP3.25 billion, driven by a contribution from the NSBU naval business in North America, the provision of Covid-19 related services in the UK and strong demand from Services Australia and Serco s Immigration Services units. Organic revenue growth is seen at 16%.
17 December 2020 | 09:17am
StockMarketWire.com - The FTSE 100 rose this morning as hopes of a Brexit trade deal and a US stimulus package to help businesses and households hit by the Covid-19 pandemic pushed shares higher.
At 0845 GMT the benchmark index was up 56 points, or 0.34%, to 6,593.31.
Military equipment maker Avon Rubber fell 12% to £33 as it warned on performance following a delay to first deliveries under its ballistics contracts with the US Army.
TalkTalk has agreed takeover terms with Toscafund Asset Management in a deal worth £1.1 billion.
The group also reported revenues of £740 million for the six months to 30 September, down from £792 million from last year.