Full Year Results 

Serco restores dividend

Serco restores dividend

While chief executive Rupert Soames described 2018 as an “inflection point”, he has characterised 2019 as the year Serco (SRP) reached “escape velocity... able to leave behind the gravitational drag of previous missteps”. Nothing like a bit of plain speaking. The outsourcer saw revenue growth for the first time since 2013, with sales rising by 13 per cent at constant currencies to £3.25bn. Organic revenue growth accelerated from 4 per cent in the first six months of the year to 12 per cent in the second half, propelled by the start of the UK asylum accommodation and support services contract. With an estimated value of £1.9bn over the next 10 years, this is the group’s largest ever contract.   

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