|Bid||96.750 x 1189900|
|Ask||97.350 x 165000|
|Day's Range||96.612 - 96.612|
|52 Week Range||82.250 - 120.900|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
I am writing today to help inform people who are new to the stock market and want to learn about the link between company’s fundamentals and stock market performance. SercoRead More...
British outsourcing company Serco (SRP.L) met first-half profit expectations on Thursday and kept its 2018 guidance while highlighting a focus on foreign contracts and cost-cutting to compensate for a "hiatus" in UK public outsourcing. Revenue at 1.37 billion pounds was down 5.6 percent on a constant currency basis while underlying trading profit rose 20 percent to 37.6 million pounds, meeting company guidance. Serco, which runs prisons, provides border security, operates ferries and trains as well as payslip administration, canteen and cleaning services in public hospitals, said growth in 2019 revenue would be broadly flat.
Capita is inviting employees to apply for up to two seats on the board of the British outsourcing firm in an attempt to improve its corporate culture and public image. The boardroom has long been the preserve of senior executives and external directors in Britain, although staff representation at the top of the company is common in other European countries. Drafting staff onto its board would be the first time a publicly-listed British company had made such appointments since the 1980s, a spokeswoman for Capita said on Wednesday, adding that those selected from among its 53,000 UK employees would keep their day jobs.
Britain's Ministry of Defence (MoD) said it had suspended a contract for outsourcing group Capita to provide firefighting services on military sites after rival Serco began a legal challenge to the decision. Capita beat Serco in June to win the contract in a major boost to the company which is being restructured by its new chief executive, Jonathan Lewis.
The collapse of Carillion exposed the risks of using private companies to cut the cost of delivering public services and its failure could be repeated if the government does not learn lessons, lawmakers said on Monday. Carillion, which employed 43,000 people to provide services in defence, education, health and transport, collapsed in January, becoming the largest construction bankruptcy in British history. A report published by a parliamentary committee on Monday said the government's overriding priority for outsourcing had been spending as little money as possible while forcing contractors to take unacceptable levels of financial risks.
Outsourcing group Serco expects to report a drop in revenues for the first half of this year, and said taking on contracts from collapsed rival Carillion would hit profits. According to Serco, this reduction is due in part to the impact of foreign exchange rates, which accounted for £60m of the lost revenue. The firm said it has been working closely with Carillion’s liquidators to agree acquisition terms for various health contracts after the collapse of the contractor earlier this year.
British outsourcer Serco (SRP.L) lowered its revenue forecast on Friday and gave a cautious market outlook, sending shares in the British outsourcing company down more than 7 percent. Chief Executive Rupert Soames said market conditions "are less than ideal, particularly in the UK" but noted the company was making progress with its strategy. Serco provides services to the defence, justice, transport and health sectors in Britain and abroad.
Cabinet minister David Lidington said on Monday he was seeking to make it easier for smaller companies, charities and social enterprises to take on large government contracts, and would demand more of public service providers, both in terms of transparency and in social awareness. Carillion collapsed in January when its banks halted its funding, triggering a row over Britain’s outsourcing of public services to private companies.
The government, which awards 200 billion pounds of public contracts to private companies every year, plans to force those doing critical work for government departments to provide a "living will" agreement that would pass their work to another supplier in an emergency. Cabinet Office Minister David Lidington said earlier on Monday he was also seeking to make it easier for smaller companies, charities and social enterprises to take on large government contracts, and would demand more transparency and social awareness from public service providers. Carillion collapsed in January when its banks halted their funding, leading to the loss of thousands of jobs and a political row over Britain's outsourcing of public services to private companies.
EDINBURGH, Scotland (Reuters) - Britain is preparing to toughen up contract terms for private companies operating in the public sector over the next 12 to 18 months after the collapse of outsourcing group ...
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.
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.
French company Teleperformance SE agreed to buy the Mumbai-based provider of business process outsourcing and contact center services.