Serco lifts FY revenue, profit guidance after strong first half

(Sharecast News) - UK government outsourcer Serco lifted annual guidance on Thursday after a strong first half, driven by growth in its immigration and defence operations. The company, whichsaid it expected full-year underlying trading profits of around £245m, 3% higher than 2022 and a 4% upgrade to prior guidance.

Revenue guidance was lifted by around 4% to at least £4.8bn, 6% higher than the £4.5bn reported in 2022 with estimates for organic revenue growth to around 4% from flat.

Reporting by Frank Prenesti for Sharecast.com