30th Jun 2016 12:51
(Correcting that Serco no longer services private-sector clients.)
LONDON (Alliance News) - Outsourcer Serco Group PLC on Thursday affirmed its expectations for the year and said its underlying trading profit for calendar 2016 will be significantly weighted to the first half.
The FTSE 250-listed company, which runs prisons, call centres, schools, detention centres and various other operations on behalf of public sector clients, said in May that profit in 2016 would be ahead of previous guidance thanks to one-off benefits accrued in the first half, particularly thanks to good outcomes on a number of commercial renegotiations.
On Thursday, Serco said nothing has occurred to change that view, and it affirmed expectations that underlying trading profit will be weighted to the first half as the boosts seen in that period were one-offs and will not recur.
Serco shares were up 2.1% to 109.60 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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