27 May 2022 - trading update

An unscheduled trading statement has been released by the outsourcing group Serco following stronger than expected trading in the first four months of 2022.  Despite the end of the UK Test and Trace programme in April which will reduce revenues in the first half of the year by some £220m, the group has been able to replace this revenue with other sales meaning that first half group revenues will be similar to last year at £2bn. This has resulted in the group predicting that underlying trading profits will be some £30m ahead of previous guidance . . .

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