Serco: FTSE 250 firm bags new contract for US Space Force Pituffik base in Greenland Tech British outsourcing giant Serco has won a $320m (£250m) contract to manage the electrical modernisation of the US Space Force’s Pituffik Space Base in Greenland. The contract, which began this month, will last four years. Serco will modernise the base’s backup electrical plant, enhancing the capacity and stability of the base’s electrical network. Pituffik Space [...]
Serco’s revenues surge as UK ‘immigration contracts’ offset a tumble in Covid testing work Immigration profits British contractor Serco said its revenues continued to grow in 2022 as surging UK government demand for its ‘immigration services’ offset a drop in Covid-related work. Serco said its overall revenues increased by £109m to £4.53bn in 2022, despite a £480m drop in income from work surrounding Covid-19. Higher revenues from Serco’s businesses running [...]
Serco wins £570m contract to run US public health insurance schemes Outsourcing British outsourcing giant Serco has won a $690m (£573m) contract from the US government to administer the country’s public health insurance schemes. Serco will run back-office delivery of America’s public health insurance initiatives in determining whether US citizens are eligible to buy coverage through the government-backed schemes. Serco’s renewed contract, which it first won [...]
Serco chief Rupert Soames to retire: ‘It is now time for me to outsource myself’ September 12, 2022 Chief of British outsourcing giant Serco Group Rupert Soames said he would “outsource myself” as he announces his retirement. Soames, 63, will step down from the role and board by the end of this year and will be succeeded by Mark Irwin, the chief of the firm’s UK & Europe division. “It has been the [...]
Serco snaps up immigration services firm ORS for £39m September 1, 2022 Government outsourcing giant Serco has snapped up Swiss specialist immigration firm ORS in a £39m deal, the firm announced this morning.
Outsourcing giant Serco posts ‘outstanding’ results on the back of ‘toughest’ year ever February 24, 2022 UK government contractor Serco today posted bumper profits, as it continued to capitalise on Covid and the impacts of the global pandemic. The Hampshire headquartered firm said its profits soared by 21 per cent, as contracts for work on the UK governments Covid-19 response lasted much longer than expected into 2021. Serco CEO Rupert Soames [...]
Test & Trace provider Serco sees profit rises 58 per cent August 5, 2021 Outsourcing company Serco Group saw a 58 per cent jump in profit following a strong first-half, the Test & Trace provider told the market this morning Revenue for the business rose to £2.2bn in the six months ending June 30, which grew 19 per cent over the last period. Underlying trading profit for the first-half [...]
Serco profits set to rise 50 per cent, bolstered by Covid contracts demand June 30, 2021 Outsourcing giant Serco today said it expects profit to reach up to £125m in the first half of the year – up more than 50 per cent from the first half of 2020. Serco, which has outperformed the wider UK outsourcing space, said in a trading update this morning that it expects stronger demand for [...]
NHS Test and Trace: Serco wins new year-long contract June 28, 2021 Outsourcing giant Serco today announced it has been awarded a new contract with the Department of Health and Social Care (DHSC) to continue providing Covid test and trace services. It comes just days after a National Audit Office (NAO) review into the largely privatised service found that 600m tests were unaccounted for and the £22bn [...]
Serco shares soar after raising profit outlook on demand for Covid services June 14, 2021 Outsourcing giant Serco today raised its 2021 profit outlook by £15m to around £200m, sending the company’s share price up by 4.5 per cent. Serco, which has outperformed the wider UK outsourcing space, said that it expects stronger demand for its Covid-19 services this year. The firm is set to benefit from its focus on [...]