TfL signs £79.7m five year deal with Serco to upgrade the capital’s thousands of Boris bikes October 3, 2016 Transport for London (TfL) has signed a deal with Serco to develop the next generation of London’s cycle hire scheme, Santander Cycles. The five year contract is valued at £79.7m and Serco will distribute and maintain the hire scheme, while the upgraded bike will be made by Pashley Cycles, a Stratford-upon-Avon firm which celebrated its [...]
Serco lands £600m contract with Barts Health NHS Trust in London September 22, 2016 Shares in outsourcing company Serco popped yesterday after it said it had been named as the prefered bidder for a whopping £600m contract with Barts Health in London. Shares leapt by almost two per cent on the announcement – the largest deal the company has won since 2014 – and ended trading yesterday up by [...]
Serco shares jump 16 per cent as it swings to profit August 4, 2016 Serco shares closed up 10.28 per cent to 130.90p today, after the outsourcer hiked its profit forecast for the second time this year. The figures The FTSE 250-listed company made a pre-tax profit of £58.1m in the six months ended 30 June, up from a loss of £16m a year earlier. This came despite revenue falling seven per [...]
City Moves for 28 July 2016 | Who’s switching jobs July 28, 2016 JLL Alistair Meadows has been appointed head of UK Capital Markets at JLL where he will oversee the strategic direction of investment for the firm’s UK clients. Alistair has over 20 years of international real estate experience in Asia Pacific and Europe and heads up the firm’s International Capital Group. In this role he specialises in [...]
Accountancy watchdog launches probe into Deloitte over Serco audit off back of fraud squad investigation June 8, 2016 The accountancy watchdog today launched an investigation into Deloitte over the audit of Serco Group, off the back of information uncovered by an ongoing investigation by the Serious Fraud Office (SFO). The Financial Reporting Council (FRC) has said it will be investigating the big four firm in relation to the preparation, approval and audit of the outsourcing company’s [...]
Serco share price jumps after it hikes profit forecasts for 2016 May 25, 2016 Serco jumped after the outsourcer hiked its earnings forecasts for this year, citing several longer and more profitable contracts. It expects underlying trading profit to be no less than £65m, more than the previous estimate of £50m. This is on revenue about £2.9bn, which is also slightly above its earlier guidance of £2.8bn. Read more: Cameron slammed over Serco [...]
Caledonian MacBrayne wins £900m ferry contract in Scotland May 19, 2016 Caledonian MacBrayne has won a £900m contract to operate the Clyde and Hebrides Ferries Network after stiff competition from Serco. CalMac, which is state owned, had to compete against Serco Caledonian Ferries Limited to continue running the service after EU rules meant the Scottish government was forced to open up the network to competitive bids. The [...]
Cameron under fire over claims he backed remain, even while negotiating with EU May 17, 2016 Prime Minister David Cameron has come under fire from Leave campaigners after he reportedly wrote to business leaders to discuss a Remain campaign strategy even before sealing a renegotiated deal with the EU. According to the Daily Mail, Cameron wrote to Serco boss Rupert Soames just under two weeks before his renegotiation was complete. In a [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]