Serco hits back after Zia Yusuf accuses FTSE 250 firm of being ‘hostile to Reform’ Politics One of the UK government’s biggest private sector contractors has denied being hostile to Reform UK after the party’s home affairs spokesperson Zia Yusuf after accused it taking “political positions” against his immigration policy. Citing a report in the Telegraph that suggested FTSE 250 firm Serco would refuse to support Reform’s deportation plans if it [...]
Defence boosts Serco amid asylum hotel decline Politics Government defence contracts helped Serco deliver a higher profit in 2025 despite a drop in the use of migrant hotels, once a key revenue stream for the London-listed company. Serco, an outsourcing company that covers government work on everything from migrant hotels to waste collection, was boosted by higher state expenditure both in the UK [...]
Serco: Defence spending pushes order pipeline to 10-year high Markets Government services firm Serco’s order pipeline has risen to the highest in more than a decade as countries across Europe and North America ramp up their defence budgets. The firm’s pipeline stood at £11.9bn, up six per cent compared to the end of last year, with as much as 80 per cent of its order [...]
CBI on hunt for Soames successor July 3, 2025 The CBI has kicked off its hunt for a new chair to succeed Rupert Soames, the man credited with saving the lobby group from the brink of collapse. The UK’s business industry body has enlisted headhunters to help with the search for Soames’ successor in one of the most prominent roles in corporate Britain. Soames, [...]
Serco appoints new chair amid better than expected performance June 26, 2025 Serco has appointed Keith Williams as chair amid a period of strong growth boosted by government spending on defence and immigration. The Halfords chair will take over from John Rishton, who will have completed a nine-year tenure by the time he steps down in December. Williams said it was an “honour” to have been selected [...]
Serco’s profit jumps as defence arm grows February 27, 2025 Serco has posted revenue of £4.8bn for 2024, in line with prior guidance, thanks to a notable improvement in organic growth, particularly in its North American Defence business. Serco, the global provider of public services, reported underlying operating profit growth of 10 per cent to £274m, with a sharp 30 per cent increase in the [...]
Serco: FTSE giant bags £200m US army deal January 15, 2025 British outsourcing giant Serco has secured a $247m (£203m) contract to enhance the health and fitness of US army soldiers. The government services provider will support 45 US army brigades across 15 locations, including bases in Alaska and Texas. Under the deal, the firm is set to drive soldier fitness, reducing injury rates and supporting [...]
Outsourcing giant Serco: Shares spike as business pipeline “at its best for a decade” December 19, 2024 British outsourcing giant Serco has said that its pipeline of business opportunities is at its strongest in over a decade thanks to a boost from North American defence contracts. Shares subsequently spiked more this seven per cent in early trades. The FTSE 250 firm told markets this morning that underlying operating profit was £270m in 2024, [...]
Serco: FTSE 250 firm predicts £20m hit from Budget tax changes November 8, 2024 British outsourcing giant Serco stressed the tax changes in the UK following the Budget will increase cost by £20m per year
Businesses warn of £400m in extra costs after Reeves’s Budget tax raid November 8, 2024 Businesses across the UK are sounding the alarm over rising costs after Rachel Reeves raised taxes by some £40bn at the Budget last week. The Chancellor announced that employer’s national insurance contributions (NIC) will increase by 1.2 per cent to 15 per cent, and the threshold at which businesses start paying the levy will be [...]