Serco's shares weakened by 4 per cent even though the outsourcing group, which runs Boris Johnson's cycle-hire scheme in London, said it was on track to meet City expectations for 2012.
IC TIP:
Buy
at
524p
However, its Americas division was suffering following curbs on federal government spending in the US. Meanwhile, the new business-process-outsourcing arm is progressing well and will add significant revenues. At 524p, still a buy.
