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Serco brings good news for outsourcers

Serco shares jumped more than 5% after it posted a solid set of full-year numbers. But valuations in the sector are likely to remain subdued because of concerns following Carillion’s collapse.

Garry white employee

by
Garry White

in Features

22.02.2018

Outsourcer Serco reported 2017 profit in line with its recently-upgraded forecast and reiterated its expectations for 2018. Revenues fell 2% to £2.95bn in 2017, while underlying trading profit fell to £69.8m, at the top end of guidance that was upgraded in December.

Revenues in 2018 are expected to be between £2.8bn and £2.9bn, underlying trading profit is expected grow to about £80m, driven largely by cost savings.

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