HOOK (dpa-AFX) - Serco Group plc (SRP.L) issued an unscheduled update on expectations for the 2018 financial year. The Group stated that its trading in the first few months of the second half was better than it anticipated. The Group's latest view, which is at estimated reported currency rates, now indicates revenue of approximately 2.8 billion pounds and underlying trading profit of 90-95 million pounds. Previous guidance was for revenue of 2.7-2.8 billion pounds and underlying trading profit of around 80 million pounds.
Serco Group now believes that a number of non-recurring trading items such as end-of-contract settlements and other commercial negotiations will contribute to a stronger outcome for 2018 than it expected, and one which will be meaningfully ahead of current market consensus.
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