Features
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.
Garry White, Chief Investment Commentator, provides a round-up of the market movements and the global investing outlook this week ending 3 July.
There was good news from the US on the jobs front, with 4.8 million extra jobs created in June. However, two thirds of the job losses of March and April are still to be recovered.
China leapt ahead of the US in its 5G infrastructure technology – and it’s about to do the same in another area of technology that will come to define the way we live.
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