HOOK (dpa-AFX) - Serco Group plc (SRP.L) reported increased results for the first half period of fiscal 2021, reflecting strong order intake and book-to-bill ratio. Further, the company issued financial forecast for the fiscal year 2021.
The company's H1 underlying trading profit was £123 million, a jump of 58% from the prior year's £78 million. On a per share basis, underlying earnings surged 75% to 6.75p from 3.86p earned a year ago.
Reported operating profit, excluding items, totaled £116 million, an increase of 31%, compared to £89 million in the prior year period. Reported earnings, excluding items, skyrocketed 232% to 18.77p per share from 5.66p per share last year.
Revenue for the period increased 19% to £2.17 billion from £1.82 billion generated in the same period of last year.
Rupert Soames, Serco Group Chief Executive, said, 'These are very strong results, with revenue up 19%, Underlying Trading Profit up 58%, and Free Cash Flow up 61%. We have had extremely strong order intake, and the book-to-bill ratio was 190%, which bodes well for the future.'
Looking ahead, the company expects fiscal 2021 revenue to be around £4.3 billion, more than 10% higher than the £3.9 billion reported in 2020, with organic growth of about 6%. Also, the company expects underlying trading profit of around £200 million for the year, up around 23% on the prior year.
Copyright RTT News/dpa-AFX