|Bid||0.00 x 1189900|
|Ask||0.00 x 165000|
|Day's Range||87.75 - 90.35|
|52 Week Range||82.25 - 123.60|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||N/A|
Cleaning Heathrow airport in west London is dirty work at the best of times. But Chris Perry of Perrymac Services said the collapse of Carillion in January left an even bigger mess for his company to mop ...
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.
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).
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.
Today, I will be analyzing Serco Group plc’s (LSE:SRP) recent ownership structure, an important but not-so-popular subject among individual investors. Ownership structure has been found to have an impact onRead More...
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.
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.
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.
By Julien Ponthus LONDON (Reuters) - UK shares edged lower on Monday as investors counted the cost of construction group Carillion's (CLLN.L) collapse, including supply chain disruption and higher costs ...
Rupert Soames took the helm as Serco Group plc’s (LSE:SRP) CEO and grew market cap to £1.08B recently. Understanding how CEOs are incentivised to run and grow their company isRead More...
An upbeat outlook on Wednesday from Serco lifted shares in the British outsourcer, which runs government services in defence, justice, immigration, transport and health, bucking recent pressure on the sector due to political uncertainty. Serco said strong growth in overseas markets was offsetting slower prospects at home because of Brexit. Although Chief Executive Rupert Soames was positive about the prospects for Serco once Britain's exit from the European Union is decided, he said the pipeline was unpredictable.
** Troubled British construction firm Carillion said it had reached a deal to sell a large part of its UK healthcare facilities management business to outsourcing group Serco, helping it cut its debt by 41.4 million pounds. ** A unit of Thai Beverage has expressed interest in buying about 51 percent of Vietnam's Sabeco, the Vietnamese trade ministry, which is looking to sell a $5 billion stake in the nation's biggest brewer, said. ** Malaysia's AMMB Holdings (AmBank) Bhd is weighing a sale of its general insurance business as part of a move to exit non-core businesses and focus on its main bank operations, said three people with knowledge of the development.
The company's shares, which have slumped more than 90 percent since a profit warning in July, rose as much at 10 percent in early trade on Wednesday. Carillion, which has said it was heading towards a breach of debt covenants and needed fresh capital, had said it would exit its UK healthcare and Canadian businesses to help raise more than 300 million pounds by the end of 2018 from disposals. The sale, for about 47.7 million pounds ($63.55 million), includes a portfolio of healthcare facilities management contracts and related ancillary contracts and assets.
Troubled British construction firm Carillion said on Wednesday it had reached a deal to sell a large part of its UK healthcare facilities management business to outsourcing group Serco, helping it cut its debt by 41.4 million pounds. Carillion, which has said it was heading towards a breach of debt covenants and needed fresh capital, had said it would exit its UK healthcare and Canadian businesses to help raise more than 300 million pounds by the end of 2018 from disposals. The sale, for about 47.7 million pounds ($63.55 million), includes a portfolio of healthcare facilities management contracts and related ancillary contracts and assets.
Serco Group plc (LSE:SRP) is a small-cap stock with a market capitalization of £996.75M. While investors primarily focus on the growth potential and competitive landscape of the small-cap companies, theyRead More...
Serco Group plc (LSE:SRP), a commercial services and supplies company based in United Kingdom, saw significant share price volatility over the past couple of months on the LSE, rising toRead More...
Babcock (BAB.L) warned that British defence spending reviews could slow revenue growth at its land division next year, sending shares in the engineering outsourcing company 5 percent lower despite first-half earnings in line with expectations. The British group, which provides design, production, maintenance and training services for the defence and engineering industry, derives three quarters of its revenue from the UK and its shares have come under sustained pressure from expectations that Brexit will delay customer decision-making. The stock is down 20 percent in the past 6 months, roughly in line with other British outsourcers, which broker Peel Hunt said reflects investor concern over pressures on the funding of UK defence programmes, the issues at other companies in the outsourcing sub-sector and increased political uncertainty.