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. [...]
Serco shares soar after raising profit outlook on demand for Covid services June 14, 2021 Outsourcing giant Serco today raised its 2021 profit outlook by £15m to around £200m, sending the company’s share price up by 4.5 per cent. Serco, which has outperformed the wider UK outsourcing space, said that it expects stronger demand for its Covid-19 services this year. The firm is set to benefit from its focus on [...]
City Moves: Who’s switching jobs in the Square Mile this week? June 2, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Brown Advisory expands London office with senior hires Investment management firm Brown Advisory has bolstered its London office this week with two senior hires as its collection of assets hits $15bn. [...]
Former Serco boss calls for abolition of Serious Fraud Office May 10, 2021 A former Serco executive who was cleared of defrauding taxpayers by hiding millions of pounds in profits has called for the abolition of the white collar crime agency that pursued him. Simon Marshall, who was acquitted last month, said the Serious Fraud Office (SFO) did not have “anything to do with justice” and should be [...]
Serious Fraud Office ends investigation into Airbus individuals May 4, 2021 The Serious Fraud Office (SFO) has ended a criminal investigation into individuals associated with Airbus, after it agreed to a record €3.6bn global settlement 16 months ago. Three sources familiar with the investigation told Reuters the SFO had written to former suspects to say it would take no further action. Overseas prosecutors could, however, take [...]