Serco forecasts revenue jump

first_img Share Serco forecasts revenue jump Monday 15 November 2010 5:14 am whatsapp whatsapp Show Comments ▼ Outsourcing firm Serco said it expected revenues to increase to about £5bn by the end of 2012, buoyed by strong demand from cost-cutting governments and local authorities.Serco, which runs London’s cycle hire scheme, several prisons in Britain and Dubai’s recently-opened metro, said it had signed £3.7bn worth of contracts over the course of the year, including contracts with the United States Navy.Last week Serco said it had struck a deal with the British government to cut the cost of its contracts after an earlier attempt to make its smaller suppliers shoulder the burden of savings backfired on the group.Shares in Serco climbed 4.3 per cent after the announcement.“In the current economic environment, there remains strong global demand for the efficient delivery of essential services,” Serco said. “We continue to expect an increase in revenue to approximately £5bn and in adjusted operating profit margin to approximately 6.3 per cent by the end of 2012,” the firm added.Execution Noble analyst David Brockton said the statement, as well as last week’s memorandum of understanding with the government, should help plough confidence back into the firm. center_img John Dunne Ad Unmute by Taboolaby TaboolaSponsored LinksSponsored LinksPromoted LinksPromoted LinksYou May LikeTotal PastThe Ingenious Reason There Are No Mosquitoes At Disney WorldTotal PastUndoSerendipity TimesInside Coco Chanel’s Eerily Abandoned Mansion Frozen In TimeSerendipity TimesUndoMoneyPailShe Was The Dream Girl In The 90s, This Is Her NowMoneyPailUndomoneycougar.comThis Proves The Osmonds Weren’t So Innocentmoneycougar.comUndoTaonga: The Island FarmThe Most Relaxing Farm Game of 2021. No InstallTaonga: The Island FarmUndoAlphaCute30 Rules That All “Hells Angels” Have To FollowAlphaCuteUndoBlood Pressure Solution4 Worst Blood Pressure MedsBlood Pressure SolutionUndothedelite.comNetflix Cancellations And Renewals: The Full List For 2021thedelite.comUndoReporter CenterBrenda Lee: What Is She Doing Now At 76 Years of Age?Reporter CenterUndo More From Our Partners Russell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comAstounding Fossil Discovery in California After Man Looks Tags: NULLlast_img read more