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Serco maintains profit guidance, trading better than expected

Reuters - UK Focus

LONDON, Aug 11 (Reuters) - British outsourcing firm Serco maintained its full-year profit guidance on Tuesday after it posted a better-than-expected fall in revenue in its first half.

The company, which is taking steps to recover from a string of contract problems and scandals, said revenue fell to 1.8 billion pounds ($1.25 billion) for the six months ended June 30, compared to 2 billion pounds a year earlier.

"Trading in the period was a little better than we anticipated at the time of the rights issue, and we are maintaining our previous guidance for 2015," said Chief Executive Rupert Soames. ($1 = 0.6423 pounds) (Reporting by Li-mei Hoang, Editing by Paul Sandle)