Former Serco boss calls for abolition of Serious Fraud Office May 10, 2021 A former Serco executive who was cleared of defrauding taxpayers by hiding millions of pounds in profits has called for the abolition of the white collar crime agency that pursued him. Simon Marshall, who was acquitted last month, said the Serious Fraud Office (SFO) did not have “anything to do with justice” and should be [...]
Serco wins new jobseekers contract worth £350m April 27, 2021 Serco has this morning announced a £350m contract with the Department for Work and Pensions (DWP) to help find unemployed people new jobs. Shares in the firm rose 3.0 per cent on the back of the announcement. The FTSE 250 services provider will run the West central and Wales contracts for the “Restart” programme, which [...]
Serco nets new £870m support services contract in Canada March 17, 2021 Outsourcer Serco has this morning won a £870m contract to provide support services at a military base in Canada. The FTSE 250 firm has been providing non-military maintenance services at the Goose Bay in Newfoundland and Labrador province since 1998. For its initial 10 years, the deal is worth a maximum £400m, with the firm [...]
Serco boss: Pandemic proves importance of private and public sector co-operation February 25, 2021 The coronavirus pandemic has shown how strong the government and private sector can be when they work together, the boss of Serco, which is running the NHS Test and Trace service, has said. Speaking to CityAM, Rupert Soames defended the much-maligned system, saying that after some initial challenges it was now a “world-beating” programme. He [...]
Serco agrees on $295m acquisition of WBB February 16, 2021 International service company Serco has today announced an agreement to acquire Whitney, Bradley & Brown (WBB) for $295m. The purchase, which is expected to close in the second quarter of 2021, will strengthen Serco’s position providing programme management services to the Department of Defence. This has been a critical growth area for the company in [...]
Serco set for profit bump on back of Covid contracts December 17, 2020 Outsourcing giant Serco today said that it was on course for a 35 per cent jump in profit this year thanks to its role in supplying key government coronavirus programmes. The FTSE 250 group said that profit would come in at £160m-£165m for the year, while revenue is also set to increase 19 per cent [...]
The week ahead, 14-18 December: Shaftesbury, SSP, Petrofac, and interest rates December 13, 2020 All eyes will be fixed firmly on Brussels this week, as businesses across the country hold their breath to see if the UK can finally reach a deal with the EU. With markets on edge as they await the outcome of the talks, there’s little to distract traders, with only a handful of firms reporting [...]
Serco shares crash as outsourcer loses role on nuclear weapons consortium November 2, 2020 Shares in Serco plummeted this morning after the outsourcing giant confirmed that the government had taken back management of its atomic weapons development facility. Shares dropped nearly 12 per cent as markets opened as traders digested the news. Yesterday Sky News reported that the government was due to announce that it would take over the [...]
Serco lifts annual outlook after Covid contract wins October 16, 2020 Serco (SRP) raised its full-year forecasts after contract extensions in the UK and cost-cutting measures boosted its third quarter results. In an unscheduled trading statement, the contractor said it had achieved strong revenue growth in the third quarter, with all regions performing better than expected. Serco said it had seen a strong performance in the [...]
Serco boss defends ‘remarkable’ coronavirus test and trace system July 1, 2020 The boss of outsourcing giant Serco has issued a strident defence of the NHS’ coronavirus “test and trace” system, calling it a “huge achievement”. Speaking to City AM’s City View podcast, Rupert Soames said that 114,000 people had agreed to isolate after being contacted within the first three weeks of the programme. The company has [...]