16 October 2020 - unscheduled trading update

The support services group Serco has surprised investors by producing an unscheduled trading update covering the third quarter of the year.  This has revealed that trading has been better than expected and the company has therefore upgraded its guidance for the full year.  Revenues for the year are now likely to be around £3.9bn as opposed to previous guidance of £3.7bn with underlying trading profit likely to be closer to £160m then the £145m previously indicated.  Net debt at the year end is also likely to have declined to between £100/£150m . . .

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