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Markets News

Serco lifts annual outlook on contract boost and cost cuts

Oct 16 (Reuters) - British outsourcer Serco Group Plc raised its full-year forecasts for revenue and profit on Friday, after contract extensions in the UK and strong performance in the United States, coupled with cost cuts, boosted third-quarter sales.

The company now expects annual revenue of around 3.9 billion pounds ($5.03 billion) and underlying trading profit in the range of 160 million pounds to 165 million pounds.

$1 = 0.7760 pounds Reporting by Pushkala Aripaka in Bengaluru; Editing by Krishna Chandra Eluri

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