Edition:
United States

Serco Group PLC (SRP.L)

SRP.L on London Stock Exchange

113.60GBp
8:50am EDT
Change (% chg)

-0.20 (-0.18%)
Prev Close
113.80
Open
113.50
Day's High
114.50
Day's Low
113.20
Volume
801,664
Avg. Vol
2,495,510
52-wk High
151.10
52-wk Low
104.50

Latest Key Developments (Source: Significant Developments)

Serco awarded contract to manage Texas department of transportation traffic management center
Thursday, 24 Aug 2017 11:38am EDT 

Aug 24 (Reuters) - Serco Group Plc ::Serco awarded new contract to manage the Texas department of transportation traffic management center.Contract has a one-year base period and three one-year option periods, and is valued at $7 million​.  Full Article

Serco group H1 results in line with guidance, on track for full year
Thursday, 3 Aug 2017 02:09am EDT 

Aug 3 (Reuters) - Serco Group Plc :Underlying trading profit £35.3m as expected versus £50.6m.Reported revenue was broadly flat at £1.51 billion, comprising a 7.6% organic decline, also as anticipate.Reported operating profit declined by £43m;.Closing net debt increased by £40m during period to £149m..Operating costs reduced in proportion to scale of underlying revenue reduction; we remain on track to achieve savings.Pipeline of larger new bid opportunities now at £7.9bn, down £0.5bn.Guidance for 2017 unchanged - revenue of £3.1bn and underlying trading profit of between £65m and £70m;.Movement in currency since our February statement may, if sustained, have a small negative effect..Trading in first half of 2017 keeps us on track to achieve our expectations for full year, and represents an improvement in underlying trading profit on second half of 2016..We have succeeded in maintaining pipeline at broadly similar levels despite strong order conversion..We remain sensibly cautious in light of political environment.  Full Article

Serco appoints Blackrock for a 1.5 bln stg liability driven investing portfolio
Thursday, 20 Jul 2017 04:21am EDT 

July 20 (Reuters) - Serco Group Plc :Serco appoints Blackrock for a 1.5 bln stg LDI mandate.Trustees of Serco pension scheme have appointed Blackrock to manage its liability driven investing (LDI) portfolio.Appointment follows a competitive tender process, coordinated by scheme's investment consultant​​.LDI strategy has now been aggregated into one portfolio managed solely by Blackrock.  Full Article

Serco sees first-half revenue of 1.5 bln stg, says order intake strong
Friday, 30 Jun 2017 02:04am EDT 

June 30 (Reuters) - Serco Group Plc :For first half, we expect to report revenue of approximately £1.5bn and underlying trading profit of around £35m.Order intake to date has been very strong at around £2.4bn, which includes our recently-signed contract worth £1.5bn to operate grafton prison.With £1.6bn booked in second half of 2016, which included £450m for barts nhs trust, order intake for 12 months to 30 june 2017 will be around £4bn.Reported revenue will, as expected, be broadly flat, with an organic decline of approximately 8% being offset by a currency translation benefit.Our 2017 full year guidance for revenue of approximately £3.1bn and underlying trading profit of between £65m and £70m is unchanged.  Full Article

Serco says gets 1.5 bln stg contract to operate an Australian prison
Tuesday, 20 Jun 2017 02:02am EDT 

June 20 (Reuters) - Serco Group Plc ::Serco signs 1.5 billion stg contract for New Grafton Correctional Centre.Has signed contract and completed financial agreements to operate New Grafton Correctional Centre (NGCC) in New South Wales, Australia.Serco's contract for operation is expected to commence in 2020.Estimated total contract value to Serco over a 20-year term is approximately A$2.6 billion.  Full Article

Serco Group partners with University Hospital Southampton NHS foundation trust
Thursday, 15 Jun 2017 04:17am EDT 

June 15 (Reuters) - Serco Group Plc :‍Serco partners with University Hospital Southampton NHS foundation trust to transform catering and cleaning​.Agreed a new partnership with University Hospital Southampton NHS foundation trust.‍Signed contract has an estimated total contract value to serco of £125m over ten-year term​.  Full Article

Serco says awarded new $101 million contract
Monday, 12 Jun 2017 10:06am EDT 

June 12 (Reuters) - Serco Group Plc ::Serco awarded new $101 million contract to manage hazardous materials for Defense Logistics Agency.Contract has a one-year base period and four one-year option periods.Contract has a one-year base period and four one-year option periods, and is valued at a total of $101 million, if all options are exercised.  Full Article

Serco named preferred bidder to operate correctional centre in Australia
Thursday, 16 Mar 2017 03:00am EDT 

Serco Group Plc : Named preferred bidder to operate new grafton correctional centre (ngcc) in New South Wales, Australia . Contract for operation is expected to commence in 2020 .Estimated total contract value to serco over a 20-year term is approximately AUD2.6bn.  Full Article

Serco 2016 underlying trading profit 82 mln stg, outlook unchanged
Wednesday, 22 Feb 2017 02:00am EST 

Serco Group Plc : Fy revenue 3.048 billion stg versus 3.515 billion stg year ago . Revenue - continuing and discontinued operations (2) £3,047.8m £3,514.6m . Says outlook revenue - continuing and discontinued operations (2) £3,047.8m £3,514.6m . Says outlook revenue - continuing and discontinued operations (2) £3,047.8m £3,514.6m . Underlying trading profit (3) £82.1m £95.9m . Net debt (including that for assets and liabilities held for sale) £109.3m . Underlying trading profit (3) declined by £14m to £82m . Trading profit (3) was £18m higher than underlying trading profit due principally to £14m net reduction in future liabilities . Closing net debt increased by £46m to £109m; however, net debt : ebitda leverage of 0.7x, was similar to last year . Continued progress reducing burden of loss-making contracts . Pipeline of larger new bid opportunities ended year at £8.4bn, a year-on-year increase of £1.9bn . Guidance for 2017 unchanged . Rupert Soames, Serco group chief executive, said: "these results show that execution of our five-year plan remains on track" .Our view of likely performance in 2017 remains unchanged from previous guidance.  Full Article

G4S no longer needs 57 mln stg contingent liability on Compass contract
Thursday, 8 Dec 2016 07:34am EST 

Britain's G4S : Spokesman says "we no longer expect 57 million stg contingent liability from compass asylum seeker support contract to materialise" . Expectation follows improved terms on Compass contract announced earlier by the UK govt [nL5N1E32PQ] (Reporting by Elisabeth O'Leary) ((elizabeth.oleary@thomsonreuters.com;)).  Full Article

BRIEF-Serco awarded contract to manage Texas department of transportation traffic management center

* Serco awarded new contract to manage the Texas department of transportation traffic management center