Serco profits surge by 30pc

SUPPORT services firm Serco has posted a 30 per cent profit rise and predicted that the government would outsource more work after the general election.

The group made a full-year pre-tax profit of £177.1m, with revenues 27 per cent higher at £3.97bn.

Serco hiked its final dividend by a quarter to 6.25p a share while its order book jumped 5 per cent over last year to £17.1bn.

The company runs the Docklands Light Railway, traffic lights in central London, the City and the East End.

It is also responsible for Mayor Boris Johnson's cycle hire scheme, environmental services in Hammersmith and Fulham and Bexley, and landscaping in Newham.

Chief executive Christopher Hyman said: “We have entered 2010 with a record order book and significant opportunities in the UK and internationally.

“Fiscal pressures are increasing in all of our global markets, presenting ever greater opportunities for the efficient delivery of essential services.”