Higher trading profits for Serco
Outsourcing group Serco says its underlying trading profit was higher in the first six months of this year than for the first half of 2020.
It was up more than 50 per cent at between £120 million and £125m.
Revenue grew 19 per cent to £2.2 billion.
Serco, which runs leisure centres in Shropshire and operates waste services in Sandwell, said trading has been ahead of last year in all four of its regions.
Chief executive Rupert Soames said: "Serco's performance in the first half underlines the trust governments around the world place in us, and our ability to respond at scale and pace to rapidly-changing requirements. We expect to deliver revenue growth in the first half of nearly 20 per cent, and underlying trading profit growth of more than 50 per cent; just as pleasing, our order intake will be at record levels at almost £4bn, including large new contracts with the UK Ministry of Defence, the Department of Work and Pensions and the Royal Canadian Airforce."
He said that for the years as a whole, Serco expected to deliver underlying trading profit of around £200m, or nearly 30 per cent growth in constant currency.
About £340m of first half revenues are expected to be related to Covid-19, which compares to £80m in 2020.
