Serco Group 1H EPS 12.96p

Corrections and amplifications

This headline was corrected at 0623 GMT to mirror the Firm’s appropriate web revenue for the primary half of £147.6m. Not £107.1m as beforehand reported.

Corrections and amplifications

This headline was corrected at 0624 GMT to mirror the corporate’s appropriate first half working revenue of £187.7m. Not £147.9m as beforehand reported.

Corrections and amplifications

This headline was corrected at 0625 GMT to mirror the corporate’s appropriate web revenue for the primary half of £176.7m. Not £136.9m as beforehand reported.

Written by Joe Hope

Serco Group mentioned its revenue and pretax income rose within the first half as a decline in coronavirus-related enterprise offset demand for different providers, and it raised money move steering.

The British outsourcing firm mentioned its revenue earlier than tax amounted to 176.7 million kilos ($224.6 million), in comparison with 136.9 million kilos a 12 months earlier.

The FTSE 100 firm mentioned on Thursday that underlying working revenue – a key firm metric, which excludes one-off and different one-off objects – rose to 147.9 million kilos from 129.5 million kilos.

Income was £2.47 billion in comparison with £2.18 billion a 12 months earlier, the results of a mix of natural acquisition and currency-related progress, with a drop in coronavirus-related enterprise offset by robust demand for immigration, protection and case administration providers.

The board declared an interim dividend of 1.14p per share, up from 0.94p.

Serco mentioned it now expects free money move for the 12 months of round £150m, up from earlier steering of £130m, and its adjusted web debt to round £170m from £190m.

The corporate supported the remainder of its steering for 2023, forecasting income of at the least £4.8bn and underlying working revenue of round £245m.

Write to Joe Hoppe at joseph.hoppe@wsj.com

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