Half Year Results 

Serco needs to match profits with cash

Serco needs to match profits with cash

As part of a sector intent on rehabilitating its image in the eyes of investors and taxpayers, Serco (SRP) has been also making significant efforts to expand internationally, an indication, perhaps, that the public/private outsourcing model in the UK is a busted flush. Indeed, four-fifths of the group’s £1.6bn order intake in the first half was generated outside the UK/Europe. Given that the UK alone accounted for two-fifths of reported revenues, it suggests a profound change is under way.

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