15th Dec 2009 07:00
Serco Group plcPre Close Statement15 December 2009
Ahead of meetings with analysts prior to its financial year end on 31 December 2009, Serco Group plc (Serco) reconfirms the guidance given in its Interim Management Statement on 12 November. We remain on track to deliver on our financial guidance for 2009, and continue to see further potential opportunities in both existing and new markets. The significant challenges facing our customers are driving their need to improve the efficiency and productivity of essential services, which together with our strong capabilities, gives us confidence in our prospects for the future.
Serco will release its 2009 full year results on 26 February 2010.
Ends
For further information please contact Serco:
Charles King, Head of Investor Relations T +44 (0) 208 334 4122
Dominic Cheetham, Director of Corporate Communications T +44 (0) 208 334 4334
Marcus De Ville, Head of Media Relations T +44 (0) 208 334 4388
About Serco
Serco is a FTSE 100 international service company, which combines commercial know-how with a deep public service ethos.
We improve essential services by managing people, processes, technology and assets more effectively. We advise policy makers, design innovative solutions, integrate systems and - most of all - deliver to the public.
Serco supports governments, agencies and companies who seek a trusted partner with a solid track record of providing assured service excellence. Our people offer operational, management and consulting expertise in the aviation, BPO, defence, education, environmental services, facilities management, health, home affairs, information and communications technology, knowledge services, local government, science, transport, welfare to work and the commercial sectors.
More information can be found at www.serco.com
Financial Guidance
Our projections, which we first gave in February 2009, are that our revenue will increase to approximately 5bn and our Adjusted operating profit margin to approximately 6.3% by the end of 2012, excluding material acquisitions, disposals and currency effects.
In 2009, we expect to deliver double-digit revenue growth and a 30bps increase in our Adjusted PBT margin, excluding SI International. The addition of SI International is anticipated to increase our 2009 revenue growth by approximately 10%. Including the benefit of SI International, we expect our Adjusted operating profit margin of 5.3% in 2008 to increase by approximately 40bps in 2009. This 2009 guidance excludes material currency effects.
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