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Serco aims for revenues of £5bn next year despite UK uncertainty
OUTSOURCING group Serco expects its revenues to hit £5bn by the end of 2012, it said in a pre-close statement yesterday.
The firm, which operates immigration centres, health services and the Docklands Light Railway, said it expects good organic growth through the year, giving an adjusted operating profit margin of 6.3 per cent.
But the company added that the UK market remains challenging, with short-term headwind from the ongoing austerity measures and public sector reforms.
Serco has acquired several international firms in recent months, in an attempt to shore up its position during a time of uncertainty in the UK.
The firm reported revenues of £4.3bn in 2010 – a rise of nine per cent on the previous year.