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Serco Sees Higher Results In FY20, FY21; Names New CFO; Wins Up To £790 Mln Australian Contract

(1) HOOK (dpa-AFX) - Serco Group Plc (SRP.L), a provider of services to governments, announced Thursday that it expects fiscal 2020 underlying trading profit or UTP to grow by around 35 percent to 160 million pounds to 165 million pounds, consistent with previous guidance. The margin is expected to increase by around 40 basis points to slightly above 4 percent. Further, revenue for the year is expected to grow by 19 percent to 3.9 billion pounds, with organic growth of 16 percent. Looking ahead for fiscal 2021, the company expects revenue and UTP to be slightly higher than 2020, reflecting a similar performance for the existing business and a small increase from the acquisition of Facilities First in Australia.

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