5th Aug 2021 09:52
(Alliance News) - Serco Group PLC on Thursday reported a rise in interim profit in the first half of 2021 as its three largest divisions delivered good growth.
Pretax profit for the six months that ended June 30 was GBP103.7 million, a rise of 36% year-on-year from GBP76.4 million.
The Hook, England-based public services provider reported revenue of GBP2.17 billion, up 19% from GBP1.82 billion.
Sercos three largest divisions - Asia Pacific, North America and UK & Europe - all delivered good growth, reflecting both the trust its customers have shown in us during the pandemic, and Serco's ability to respond to their requirements with speed and at scale, the firm said.
Serco declared an interim dividend of 0.8 pence per share, compared to last year when the company decided against a payout.
Serco expects revenue of around GBP4.3 billion in 2021, more than 10% higher than the GBP3.9 billion reported in 2020. However, the company noted the uncertainty of Coivd-19 means it is difficult to accurately forecast what happens.
"We expect 2021 to be an exceptional year for Serco, not only in terms of financial performance, where we expect to deliver revenue growth of over 10%, profits growth of around 23%, and strong cash conversion, but also outstanding operational delivery in the context of a pandemic," said Chief Executive Rupert Soames.
Shares in Serco were down 0.6% to 139.70 pence each in London on Thursday morning.
By Amrit Sahota; [email protected]
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