REFILE-Serco says government contract review imminent
LONDON Dec 19 (Reuters) - Serco, the outsourcing firm under a criminal investigation, said on Thursday it will update the market shortly on the British government review which will decide if it can sign new contracts.
Britain barred Serco and rival firm G4S from winning new work in July after the firms charged for putting electronic tags criminals who were not being monitored, in prison or even dead.
Serco, which runs services from London's light railway to maintaining nuclear weapons, has lost almost one third of its market value since the tagging problems first arose and is still looking for a new group chief executive.
The firm said that external adviser and other directly related costs with the Cabinet Office contract review and a separate report on whether it has shown sufficient corporate change would now be 17 million pounds ($27.9 million), up from 12 million.
One-off charges and accounting charges within the electronic tagging contract will now be around 19 million pounds, up from 15 million pounds it previously expected, the firm said.
- Exclusive: Radar data suggests missing Malaysia plane deliberately flown way off course - sources
- Investigators focus on foul play behind missing plane-sources |
- Russia ships troops into Ukraine, repeats invasion threat |
- Search for Malaysian plane may extend to Indian Ocean - U.S |
- Russia blocks internet sites of Putin critics