SRP.L - Serco Group plc
| Previous close | 96.15 |
| Open | 96.80 |
| Bid | 95.45 x 1189900 |
| Ask | 95.55 x 165000 |
| Day's range | 95.40 - 97.30 |
| 52-week range | 82.25 - 122.20 |
| Volume | 351,483 |
| Avg. volume | 2,394,425 |
| Market cap | 1.041B |
| Beta | 1.20 |
| PE ratio (TTM) | N/A |
| EPS (TTM) | -0.00 |
| Earnings date | 2 Aug 2018 |
| Forward dividend & yield | N/A (N/A) |
| Ex-dividend date | 2014-09-03 |
| 1y target est | 105.15 |
- Reuters•yesterday
Capita's shares rise on defence contract, business sale
Capita, which raised 701 million pounds ($922 million) from investors in May after a series of profit warnings, said the sale of Supplier Assessment Services would help strengthen the company. "This transaction marks a further step in executing the strategy announced in April aimed at simplifying and strengthening the business to deliver future success," Chief Executive Jonathan Lewis said. Analysts also welcomed the contract win, the first major deal awarded by the government since the collapse of Carillion, a construction and outsourcing partner to the government which went out of business in January, rocking the sector.
- Reuters - UK Focus•yesterday
Capita's shares rise on defence contract, business sale
British outsourcing company Capita plc (LSE: CPI.L - news) said it had sold a supply chain business and won a government contract to provide firefighting services on military sites, showing progress in its turnaround plan and lifting its shares. "This transaction marks a further step in executing the strategy announced in April aimed at simplifying and strengthening the business to deliver future success," Chief (Taiwan OTC: 3345.TWO - news) Executive Jonathan Lewis said. Analysts said the price of 160 million pounds ($212 million) in the sale to private equity firm Warburg Pincus was higher than expected.
- Reuters•2 days ago
Capita awarded UK defence ministry contract, beating Serco, union says
British outsourcer Capita (CPI.L) has been awarded a British Ministry of Defence contract to provide defence workers and firefighters, the Unite union said on Monday. Unite said Capita had beaten rival Serco (SRP.L) although Capita was yet to officially confirm the deal and no one from the company was available for comment. Capita which provides IT-led services for the public and private sector, is trying to pay down debt, boost investment after a period in which it took on more work than it could profitably handle.
- Reuters - UK Focus•2 days ago
Capita awarded UK defence ministry contract, beating Serco, union says
British outsourcer Capita (Taiwan OTC: T1614Y.TWO - news) has been awarded a British Ministry of Defence contract to provide defence workers and firefighters, the Unite union said on Monday. Unite said Capita (LSE: CPI.L - news) had beaten rival Serco although Capita was yet to officially confirm the deal and no one from the company was available for comment. Capita which provides IT-led services for the public and private sector, is trying to pay down debt, boost investment after a period in which it took on more work than it could profitably handle.
- The Wall Street Journal•6 days ago
[$$] Blackstone to Exit Intelenet Investment
French company Teleperformance SE agreed to buy the Mumbai-based provider of business process outsourcing and contact center services.
- Forbes•last month
On Your Bike, Laddie: Norwegian Company Wins Software Mandate for Edinburgh's First Bike Scheme
A new city bike hire scheme is coming to Edinburgh, operated by Norwegian technology. Serco will introduce and operate the innovative cycle hire scheme, using software provided by the Oslo-based Urban Infrastructure Partner (UIP). "We're providing both the backup systems for Serco to operate the scheme and the apps to unlock and lock the bikes," said Axel Bentsen, CEO of UIP in Oslo.
Sky News•4 months agoSerco profits down but boss is still optimistic
Serco has reported a fall in profits but is still optimistic it can emerge as one of the winners from the turmoil hitting the outsourcing sector. The company, which provides justice, transport, defence and welfare services for governments worldwide, said pre-tax profits had tumbled to £19.1m in 2017. Rupert Soames, Serco Group (Other OTC: SCGPY - news) chief executive, said he expected Serco's profits to grow this year and next year.
- Reuters•4 months ago
Serco's Soames calls for end to 'Wild West' in UK outsourcing
Britain's Serco (SRP.L) has called for more transparency from the government over the award of public contracts to protect companies after rival Carillion went bust, saying the market should not be a "Wild West". Carillion, which took on large infrastructure projects as well as service contracts, collapsed in January largely because of problems with its public building works. Critics accuse the government of encouraging a risk-taking culture in which companies bid aggressively for contracts with thin margins, leaving little leeway when projects hit predictable delays.
- Reuters - UK Focus•4 months ago
Serco's Soames calls for end to "Wild West" in UK outsourcing
Britain's Serco has called for more transparency from the government over the award of public contracts to protect companies after rival Carillion went bust, saying the market should not be a "Wild West". Carillion (Frankfurt: 924047 - news) , which took on large infrastructure projects as well as service contracts, collapsed in January largely because of problems with its public building works. Critics accuse the government of encouraging a risk-taking culture in which companies bid aggressively for contracts with thin margins, leaving little leeway when projects hit predictable delays.
- Reuters•4 months ago
Serco rallies on signs it can withstand bumpy UK outsourcing road
Britain's Serco (SRP.L) said it expected to emerge as one of the winners from the turmoil hitting the outsourcing sector after it reported 2017 results in line with its expectations and predicted profit growth for the next two years. Serco, which provides justice, transport, defence and welfare services for governments across the world, is in the latter stages of a five-year restructuring, started after it ran into the kind of problems which led to the demise of rival Carillion (CLLN.L) in January. Serco shares rose 5 percent in a falling market after Chief Executive Rupert Soames said the actions it has taken made it more robust than rivals who are also grappling with a downturn in demand, such as Capita (CPI.L) and Interserve (IRV.L).
- Reuters - UK Focus•4 months ago
Serco rallies on signs it can withstand bumpy UK outsourcing road
Britain's Serco said it expected to emerge as one of the winners from the turmoil hitting the outsourcing sector after it reported 2017 results in line with its expectations and predicted profit growth for the next two years. Serco, which provides justice, transport, defence and welfare services for governments across the world, is in the latter stages of a five-year restructuring, started after it ran into the kind of problems which led to the demise of rival Carillion (Frankfurt: 924047 - news) in January. Serco shares rose 5 percent in a falling market after Chief (Taiwan OTC: 3345.TWO - news) Executive Rupert Soames said the actions it has taken made it more robust than rivals who are also grappling with a downturn in demand, such as Capita (LSE: CPI.L - news) and Interserve (Frankfurt: 860509 - news) .
- Reuters - UK Focus•4 months ago
Serco meets forecasts and reiterates outlook despite "bumpy road" ahead
British outsourcer Serco reported 2017 profit in line with its recently-upgraded forecast and reiterated its expectations for 2018, expressing confidence in a sector hit by the collapse of rival Carillion. ...
- Reuters•4 months ago
Gearing up for rate hike, UK households turn gloomier on finances - survey
British households' gloom about their finances deepened this month, and most now expect borrowing costs to rise again within six months after the Bank of England raised interest rates in November, a survey showed on Monday. Data company IHS Markit said its Household Finance Index, a monthly gauge of financial well-being, fell to a seven-month low of 42.2 from 42.9 in January. Conducted over six days starting on Feb. 8, the day the BoE said it was likely to raise rates sooner and by more than it previously thought, the survey showed 60 percent of households expected a hike within six months, up from 45 percent in January.
- Reuters - UK Focus•4 months ago
Gearing up for rate hike, UK households turn gloomier on finances - survey
British households' gloom about their finances deepened this month, and most now expect borrowing costs to rise again within six months after the Bank of England raised interest rates in November, a survey showed on Monday. Data company IHS Markit (Stuttgart: A1139A - news) said its Household Finance Index, a monthly gauge of financial well-being, fell to a seven-month low of 42.2 from 42.9 in January. Conducted over six days starting on Feb. 8, the day the BoE (Shenzhen: 000725.SZ - news) said it was likely to raise rates sooner and by more than it previously thought, the survey showed 60 percent of households expected a hike within six months, up from 45 percent in January.
- Reuters - UK Focus•4 months ago
Babcock trims revenue forecast, savings protect profit
British engineer Babcock trimmed its 2017-18 revenue forecast on Tuesday due to slower demand in the oil, gas and defence sectors, the latest blow to the country's outsourcing industry. Its shares were down 2.2 percent at 0900 GMT, after a 20 percent slide in the past three months and against a near 3 percent fall in Britain's main FTSE 100 share index. The collapse of construction and support services group Carillion (Frankfurt: 924047 - news) in January, and a big profit warning from outsourcer Capita (LSE: CPI.L - news) , have also sent shockwaves through the sector.
- Reuters - UK Focus•5 months ago
BUZZ-UK outsourcers tumble again after Capita warning
** Shares of British outsourcing companies in the red after Capita Plc's Wednesday profit warning, following on from collapse of Carillion, triggers caution on the whole sector ** Capita falls 13 pct, ...
- Reuters - UK Focus•5 months ago
BUZZ-VIEW FROM THE BUYSIDE-Babcock: caught in the crossfire
** Spate of UK contractor woes partly behind Babcock's steep sell-off, but its position as a defence contractor affords it some protection from issues in sector at large and Lowland Investment Company ...
- Reuters - UK Focus•5 months ago
UK defence spending plans may fall short by 21 bln pounds-watchdog
The budget set by Britain's defence ministry to support new equipment needed in the next decade could fall short by 20.8 billion pounds ($29.5 billion), Britain's independent government spending watchdog has said. A National Audit Office report published on Wednesday found there was a shortfall of at least 4.9 billion pounds ($7 billion), potentially rising by another 15.9 billion pounds, if all the risks identified by the Ministry of Defence arise and it is unable to make the savings assumed under the plan. The report, which could affect government spending decisions and private contractors such as Serco and Babcock , said some of the costing expectations had been over-optimistic and that foreign exchange rates used had not been accurate.
- Reuters•5 months ago
Capita shares plunge 40 percent as UK outsourcer cuts forecasts
British outsourcing group Capita (CPI.L) lost 40 percent of its market value on Wednesday after its new boss slashed profit forecasts and set out plans to raise cash to avoid the same fate as collapsed rival Carillion. Just two weeks after Carillion perished under a pile of debt, Capita, which provides IT services to companies and governments to cut costs, said it needed a complete overhaul and to retrench. Under new Chief Executive Jonathan Lewis who arrived in December, Capita said it would raise around 700 million pounds ($992 million) in a rights issue in 2018, scrap the dividend and sell assets to enable it to boost investment, focus on contract profitability, and plug a hole in its pensions scheme.
- Reuters - UK Focus•5 months ago
Capita shares plunge 40 pct as UK outsourcer cuts forecasts
British outsourcing group Capita (Taiwan OTC: T1614Y.TWO - news) lost 40 percent of its market value on Wednesday after its new boss slashed profit forecasts and set out plans to raise cash to avoid the same fate as collapsed rival Carillion (Frankfurt: 924047 - news) . Just two weeks after Carillion perished under a pile of debt, Capita (LSE: CPI.L - news) , which provides IT services to companies and governments to cut costs, said it needed a complete overhaul and to retrench. Under new Chief Executive Jonathan Lewis who arrived in December, Capita said it would raise around 700 million pounds ($992 million) in a rights issue in 2018, scrap the dividend and sell assets to enable it to boost investment, focus on contract profitability, and plug a hole in its pensions scheme.
- Reuters•5 months ago
UK government does not see Capita heading same way as Carillion - PM's spokesman
The British government monitors the financial health of all its strategic suppliers and does not believe that any, including Capita (CPI.L), are in a comparable position to Carillion, a spokesman for Prime Minister Theresa May said on Wednesday. "Broadly we monitor the financial health of all our strategic suppliers, including Capita, and we are in regular discussions with them regarding their financial position," the spokesman told reporters, after Capita shares fell sharply on news of a restructuring.
- Reuters - UK Focus•5 months ago
UK government does not see Capita heading same way as Carillion - PM's spokesman
The British government monitors the financial health of all its strategic suppliers and does not believe that any, including Capita (LSE: CPI.L - news) , are in a comparable position to Carillion (Frankfurt: 924047 - news) , a spokesman for Prime Minister Theresa May said on Wednesday. "Broadly we monitor the financial health of all our strategic suppliers, including Capita, and we are in regular discussions with them regarding their financial position," the spokesman told reporters, after Capita shares fell sharply on news of a restructuring.
- Reuters•5 months ago
Road to ruin? Carillion collapse puts spotlight on UK outsourcing model
LONDON/BALMEDIE, Scotland (Reuters) - In Balmedie, a village on the northeast coast of Scotland, an unfinished 12 km stretch of dual carriageway is a stark illustration of why British construction company Carillion went bust this week. Britain's biggest corporate failure in almost a decade threatens thousands of jobs and has forced the government to step in to guarantee a slew of public services that the firm had provided. A handful of workers in high-visibility jackets could be seen still on the building site this week, on a bitterly cold day, nine months after that section of the route was expected to open.