Ethical investors pressure Serco to drop UK nuclear weapons bid November 7, 2021 Pressure from ethical investors has reportedly forced outsourcer Serco to drop out of the race to manage Britain’s nuclear weapons arsenal. Best known for its involvement with NHS test and trace during the coronavirus pandemic Serco is believed to have had plans to compete for contracts with the Atomic Weapons Establishment, which makes and maintains [...]
Ministry of Defence faces backlash after awarding contracts to foreign shipyards September 2, 2021 Backlash ensued after the Ministry of Defence (MoD) announced its latest decision to consider foreign firms in the race to build Royal Navy supply vessels. Yesterday marked a vital stage in the battle to secure a £1.5bn deal to deliver the ships the Royal Fleet Auxiliary need to support the Royal Navy. The MoD awarded [...]
Test & Trace provider Serco sees profit rises 58 per cent August 5, 2021 Outsourcing company Serco Group saw a 58 per cent jump in profit following a strong first-half, the Test & Trace provider told the market this morning Revenue for the business rose to £2.2bn in the six months ending June 30, which grew 19 per cent over the last period. Underlying trading profit for the first-half [...]
Nuclear submarine steelmaker set for public ownership July 7, 2021 A key supplier to the UK’s nuclear submarine building programme is set to be taken into public ownership amid concerns over its financial situation. Sky News reported that the Ministry of Defence (MoD) is finalising a move to nationalise Sheffield Forgemasters, one of the country’s oldest steelmakers. Talks over such a step have been going [...]
Sodexo nets enlarged Test and Trace contract worth £400m July 2, 2021 Sodexo has become the latest service provider to have its contract to run test and trace facilities for the NHS extended. The outsourcer announced overnight that selected to operate a further 121 fixed and mobile Covid-19 testing centres, which makes it the biggest provider of such services in the country. It added that the new [...]
Serco profits set to rise 50 per cent, bolstered by Covid contracts demand June 30, 2021 Outsourcing giant Serco today said it expects profit to reach up to £125m in the first half of the year – up more than 50 per cent from the first half of 2020. Serco, which has outperformed the wider UK outsourcing space, said in a trading update this morning that it expects stronger demand for [...]
Mitie renews £365m deal to run Covid-19 testing facilities June 28, 2021 Outsourcer Mitie has today had its contract to run NHS coronavirus testing facilities extended by a year, in a deal that could be worth £1m a day. It will continue to provide cleaning, waste management and security services at 175 testing sites and 105 mobile testing units across England, Wales, and Scotland. The deal can [...]
NHS Test and Trace: Serco wins new year-long contract June 28, 2021 Outsourcing giant Serco today announced it has been awarded a new contract with the Department of Health and Social Care (DHSC) to continue providing Covid test and trace services. It comes just days after a National Audit Office (NAO) review into the largely privatised service found that 600m tests were unaccounted for and the £22bn [...]
Outsourcer Mitie snaps up £650m defence contract June 14, 2021 Outsourcer Mitie has today won a £646m contract to deliver building and maintenance services for the Ministry of Defence’s (MoD) sites across Scotland and Northern Ireland. The seven-year contract covers 4,400 buildings over 91 sites, including both historic buildings such as Edinburgh Castle and active military bases. The MoD will have the option of extending [...]
Wall Street muted at open while FTSE 100 cuts morning gains June 14, 2021 Wall Street’s main indexes were muted today as focus shifted to this week’s Fed meeting where the central bank is expected to maintain its accommodative stance on monetary policy. The Dow Jones Industrial Average was down 0.3 per cent, while the S&P 500 fell 0.1 per cent at the open, remaining near an all-time time. [...]