Serco
Public services provider Serco operates across a vast spectrum of sectors serving governments around the world, across defence, space, healthcare, justice and migration, transport and citizen services.
In full-year results, Serco’s revenue grew by 7% year-over-year to £4.9 billion, while underlying operating profit rose by 5% to £249 million — with more than 60% of these profits derived from outside the UK.
It also noted an order intake of £4.6 billion of wins, with a strong order book of £13.6 billion. And it had a pipeline of £10.1 billion in potential new work, up by 28% in the half year and its highest level in a decade. It’s possible that the company may benefit from the expected Labour-led government, which tends to spend more on public services, with the accompanying hit to the public finances.
CEO Mark Irwin enthuses that ‘We have entered 2024 with increased execution focus on service excellence to our customers, effective conversion of a substantial pipeline of opportunities, the safety and productivity of our colleagues, and progressing the technology-enablement of our business, all aligned to delivery of our medium-term goals.’
