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Serco Group PLC (SRP.L)

SRP.L on London Stock Exchange

89.65GBp
21 Nov 2018
Change (% chg)

-0.20 (-0.22%)
Prev Close
89.85
Open
91.50
Day's High
91.50
Day's Low
88.40
Volume
3,975,546
Avg. Vol
2,050,391
52-wk High
108.80
52-wk Low
82.25

Latest Key Developments (Source: Significant Developments)

Serco Group Signs 30 Mln STG Contract With Hong Kong Government
Friday, 9 Nov 2018 

Nov 9 (Reuters) - Serco Group PLC ::SERCO GROUP PLC - SERCO SIGNS NEW £30M CONTRACT WITH HONG KONG GOVERNMENT TO MANAGE TWO NEW TUNNELS FOR MAJOR ROAD PROJECT.SERCO GROUP PLC - TOTAL VALUE OF CONTRACT, EXCLUDING ANY EXTENSION, IS HK$305M ,EQUIVALENT TO APPROXIMATELY £30M.  Full Article

Serco Awarded Contract Extension At Ministry Of Defence St Athan
Wednesday, 24 Oct 2018 

Oct 24 (Reuters) - Serco Group PLC ::SERCO AWARDED CONTRACT EXTENSION AT MOD ST ATHAN.AWARDED ONE YEAR EXTENSION TO CONTRACT TO PROVIDE SUPPORT SERVICES AT MINISTRY OF DEFENCE ST ATHAN IN VALE OF GLAMORGAN IN SOUTH WALES.  Full Article

Serco Inc Awarded $22 Mln Contract To Deliver Training To U.S. Army
Friday, 5 Oct 2018 

Oct 5 (Reuters) - Serco Inc::SERCO INC - AWARDED $22 MILLION CONTRACT TO DELIVER TRAINING TO U.S. ARMY.SERCO INC - CONTRACT HAS A ONE-YEAR BASE PERIOD PLUS FOUR ONE-YEAR OPTION PERIODS.  Full Article

Top Shareholder MSD Partners Cuts Stake In Serco To 4.97 Pct - Filing
Wednesday, 3 Oct 2018 

Oct 3 (Reuters) - Filing::TOP SHAREHOLDER MSD PARTNERS CUTS STAKE IN SERCO GROUP TO 4.97 PERCENT FROM 10 PERCENT EARLIER - FILING.  Full Article

Serco an outlier in sluggish UK business climate-CEO Soames
Friday, 28 Sep 2018 

Sept 28 (Reuters) - Serco Group PLC ::CEO Soames tells Reuters in an interview that outsourcing backdrop is still sluggish in UK, Serco is an outlier.CEO says margins should improve to 3.5 percent on basis of expected increase in 2018 profit.CEO sees U.S. and Australian market "pretty upbeat", Middle East difficult to read, UK still "in thrall to brexit".CEO Soames says "God knows" what outcome we can expect from Brexit.  Full Article

Serco Group Expects Full-Year Profit To Beat Market Expectations
Friday, 28 Sep 2018 

Sept 28 (Reuters) - Serco Group PLC ::FY REVENUE 2.8 BILLION STG.TRADING IN FIRST FEW MONTHS OF SECOND HALF BEING BETTER THAN WE ANTICIPATED.PREVIOUS GUIDANCE WAS FOR REVENUE OF £2.7-2.8BN AND UNDERLYING TRADING PROFIT OF AROUND £80M..NOW INDICATES REVENUE OF APPROXIMATELY £2.8BN AND UNDERLYING TRADING PROFIT OF £90-95M.LATTER WOULD REPRESENT GROWTH OF BETWEEN 30 AND 40% ON RESULT FOR 2017.NOW BELIEVE THAT A NUMBER OF NON-RECURRING TRADING ITEMS SUCH AS END-OF-CONTRACT SETTLEMENTS AND OTHER COMMERCIAL NEGOTIATIONS WILL CONTRIBUTE TO A STRONGER OUTCOME FOR 2018 THAN WE EXPECTED.2018 OUTCOME WILL BE MEANINGFULLY AHEAD OF CURRENT MARKET CONSENSUS.PREVIOUS GUIDANCE WAS FOR REVENUE OF £2.7-2.8BN AND UNDERLYING TRADING PROFIT OF AROUND £80M.ANTICIPATE THAT WE WILL RECEIVE EARLY REPAYMENT OF A VENDOR LOAN NOTE ISSUED ON OUR DISPOSAL OF INTELENET IN 2015.AS A CONSEQUENCE, WE NOW EXPECT LEVERAGE FOR COVENANT PURPOSES OF LESS THAN 1.5X EBITDA AT YEAR END.LATEST VIEW, WHICH IS AT ESTIMATED REPORTED CURRENCY RATES, NOW INDICATES REVENUE OF APPROXIMATELY £2.8BN AND UNDERLYING TRADING PROFIT OF £90-95M.ACCOUNTING NET DEBT AT END OF YEAR, WHICH WE PREVIOUSLY THOUGHT WOULD BE AT MID-TO-UPPER END OF OUR £200-250M GUIDANCE RANGE, IS NOW EXPECTED TO BE TOWARDS LOWER END OF THAT RANGE.WE NOW EXPECT LEVERAGE FOR COVENANT PURPOSES OF LESS THAN 1.5X EBITDA AT YEAR END.WE ARE MINDFUL OF FACT THAT 2019 WILL NOT BENEFIT FROM NON-RECURRING TRADING ITEMS WE EXPECT TO SEE IN 2018.  Full Article

Serco Signs Contract With Australian Defence Force's Joint Logistics Command
Friday, 24 Aug 2018 

Aug 24 (Reuters) - Serco Group PLC ::SIGNED CONTRACT WITH AUSTRALIAN DEFENCE FORCE'S JOINT LOGISTICS COMMAND TO CONTINUE PROVIDING MIDDLE EAST LOGISTICS & BASE SUPPORT SERVICES.CONTRACT, STARTING IN JAN 2019, HAS A THREE-YEAR BASE PERIOD WITH TWO INDIVIDUAL OPTION YEARS AND VALUE OF APPROXIMATELY AU$135M.  Full Article

Serco Awarded $600 Million Single-Award ID/IQ Contract to Support Disaster Recovery
Tuesday, 2 Jan 2018 

Jan 2 (Reuters) - Serco Group Plc ::AWARDED A POSITION ON FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) PUBLIC ASSISTANCE TECHNICAL ASSISTANCE CONTRACT (PA TAC) IV.RECEIVED A SINGLE-AWARD INDEFINITE DELIVERY, INDEFINITE QUANTITY (ID/IQ) CONTRACT THAT HAS A CEILING VALUE OF $600 MILLION OVER NEXT FIVE YEARS.  Full Article

Serco Group says standing down on Middle East Light Rail Bids
Monday, 13 Nov 2017 

Nov 13 (Reuters) - Serco Group Plc :TENDERING PROCESS FOR MIDDLE EAST RAIL OPPORTUNITIES IS TAKING MUCH LONGER THAN ANTICIPATED, DECIDED TO STAND DOWN BIDDING TEAMS AND REDIRECT EFFORTS ELSEWHERE​.THE BIDS REPRESENTED AN AGGREGATE £2.5BN OF £7.9BN PIPELINE; THEY WILL NO LONGER BE PART OF NEXT PIPELINE UPDATE THAT WILL BE REPORTED WITHIN FY RESULTS.  Full Article

Serco wins 26 mln stg extension to pilot training contract
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - SERCO GROUP PLC ::AWARDED EXTENSION TO HELICOPTER PILOT TRAINING CONTRACT AT RAF BENSON‍​.EXTENSION WILL SEE THE CONTRACT CONTINUE UNTIL AT LEAST OCTOBER 2025‍​.EXTENSION HAS A TOTAL ESTIMATED CONTRACT VALUE OF 26 MLN STG OVER THE EIGHT YEAR TERM, WITH POTENTIAL OPTIONS TO FURTHER EXTEND THE CONTRACT TO 2037.  Full Article

UPDATE 2-UK PM May seeks to reassure business on Brexit progress

* May working to improve business credentials (Recasts after meeting)