6th May 2015 06:50
LONDON (Alliance News) - FTSE 250-listed outsourcer Serco Group PLC said on Wednesday it is trading in line with expectations.
In a brief statement issued ahead of its annual general meeting, the company said it is trading in line with the expectations outlined at its full-year results in March.
Those results, released on March 12, saw shares in the company plunge after it reported a massive pretax loss for 2014. Serco booked huge provisions on onerous contracts, reported its first fall in revenue as a listed company, and confirmed it had scrapped its final dividend payout, while also saying it will launch a GBP555 million rights issue at a more than 50% discount.
By Sam Unsted; [email protected]; @SamUAtAlliance
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