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Serco reiterates guidance for 2016 profit decline

Reuters - UK Focus

LONDON, Feb 25 (Reuters) - British outsourcing firm Serco reiterated its expectations for a decline in revenue and trading profit in 2016, after it posted a fall in revenue in 2015, in line with its previous guidance.

The company, which is making steps to recover from a string of contract problems and scandals, said on Thursday that revenue for the year ended Dec. 31 fell to 3.5 billion pounds ($4.87 billion), from nearly 4 billion pounds a year earlier. ($1 = 0.7181 pounds) (Reporting by Li-mei Hoang; Editing by Susan Fenton)