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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Serco Group plc    SRP   GB0007973794

SERCO GROUP PLC

(SRP)
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Serco : shares jump after outsourcer lifts annual outlook

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10/16/2020 | 03:16am EDT

(Reuters) - British outsourcer Serco Group raised full-year forecasts for revenue and profit on Friday, after contract extensions in the UK and strong performance in the United States, along with cost cuts, boosted its third-quarter results.

The company's shares rose 17% in early trading after Serco said it now expects annual revenue of around 3.9 billion pounds and underlying trading profit in the range of 160 million pounds to 165 million pounds.

A focus on public sector services has sheltered Serco from the impact of the health crisis. Weakness in its transport services was offset by additional work for governments and provision of COVID-19 testing and quarantine facilities.

The company said performance in all regions was better than it expected, and that it was awarded more work related to COVID-19 test and trace services for Britain's National Health Service and immigration services in Australia.

However, the outsourcer stuck to a cautious tone for 2021, and said it expects uncertainties would persist into next year as coronavirus infections are on the rise.

London-listed Serco, which provides services in hospitals, prisons and nuclear facilities in more than 20 countries, previously expected revenue in 2020 to be roughly 3.7 billion pounds and profit between 135 million pounds and 150 million pounds.

(Reporting by Pushkala Aripaka in Bengaluru; Editing by Krishna Chandra Eluri)


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Financials
Sales 2020 3 836 M 4 969 M 4 969 M
Net income 2020 103 M 133 M 133 M
Net Debt 2020 519 M 672 M 672 M
P/E ratio 2020 16,6x
Yield 2020 1,08%
Capitalization 1 643 M 2 133 M 2 128 M
EV / Sales 2020 0,56x
EV / Sales 2021 0,53x
Nbr of Employees 50 000
Free-Float 98,4%
Chart SERCO GROUP PLC
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Technical analysis trends SERCO GROUP PLC
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Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 13
Average target price 177,25 GBX
Last Close Price 133,70 GBX
Spread / Highest target 45,8%
Spread / Average Target 32,6%
Spread / Lowest Target 21,2%
EPS Revisions
Managers
NameTitle
Rupert Christopher Soames Group Chief Executive Officer & Executive Director
Roy Alan Gardner Chairman
Anthony Andrew Kirby Chief Operating Officer & Director-Human Resources
Angus George Cockburn Chief Financial Officer & Executive Director
John F. Rishton Senior Independent Non-Executive Director
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