Feeds

Serco profits swell

Outsourcing, terror alerts mean more growth

Combat fraud and increase customer satisfaction

Government services firm Serco announced tasty half year results today.

Compared to last year, revenues were up 15 per cent to £1.236bn. Bigger margins meant profits outperformed revenue growth. Pre-tax profits climbed to £44.3m, 20.1 per cent up on the same period in 2005. The figures deliver earnings per share of £0.0669 and a dividend of £0.0105.

Executive chairman Kevin Beeston said: "The unrelenting rise in citizens' expectations, together with an ever-increasing requirement for value-for-money public services, leaves Serco confident of continued double-digit growth.

"Favourable markets allow us to bid selectively, which together with improvements in operating efficiencies means margins will continue to rise."

Regarding its security business, the firm said in a statement: "The events which have dominated the news since the beginning of August this year have done nothing to reduce that awareness, and not just in the UK...We expect more market growth in the UK (already approaching £3bn per annum) and overseas, particularly in the US."

Bosses said widespread public spending squeezes were opening new opportunites for the firm. The UK government's outsourcing projects are being used as "an example" overseas, they reckon, putting a UK firm like Serco in a strong bidding position.

The firm said it would be targeting new market opportunities worldwide totalling £22bn. In the UK, it's eyeing up the services slice of the £70bn it cost the government to decommission ageing nuclear power infrastructure.

Serco's full report is here. ®

3 Big data security analytics techniques

More from The Register

next story
Dropbox defends fantastically badly timed Condoleezza Rice appointment
'Nothing is going to change with Dr. Rice's appointment,' file sharer promises
Audio fans, prepare yourself for the Second Coming ... of Blu-ray
High Fidelity Pure Audio – is this what your ears have been waiting for?
Did a date calculation bug just cost hard-up Co-op Bank £110m?
And just when Brit banking org needs £400m to stay afloat
Sorry London, Europe's top tech city is Munich
New 'Atlas of ICT Activity' finds innovation isn't happening at Silicon Roundabout
MtGox chief Karpelès refuses to come to US for g-men's grilling
Bitcoin baron says he needs another lawyer for FinCEN chat
Zucker punched: Google gobbles Facebook-wooed Titan Aerospace
Up, up and away in my beautiful balloon flying broadband-bot
Apple DOMINATES the Valley, rakes in more profit than Google, HP, Intel, Cisco COMBINED
Cook & Co. also pay more taxes than those four worthies PLUS eBay and Oracle
prev story

Whitepapers

Top three mobile application threats
Learn about three of the top mobile application security threats facing businesses today and recommendations on how to mitigate the risk.
Combat fraud and increase customer satisfaction
Based on their experience using HP ArcSight Enterprise Security Manager for IT security operations, Finansbank moved to HP ArcSight ESM for fraud management.
The benefits of software based PBX
Why you should break free from your proprietary PBX and how to leverage your existing server hardware.
Five 3D headsets to be won!
We were so impressed by the Durovis Dive headset we’ve asked the company to give some away to Reg readers.
SANS - Survey on application security programs
In this whitepaper learn about the state of application security programs and practices of 488 surveyed respondents, and discover how mature and effective these programs are.