HOOK (dpa-AFX) - Serco Group PLC (SRP.L) on Monday increased outlook for the full year, citing several factors that led to the improved performance.
The group expects revenue of nearly 4.4 billion pounds in the full-year, higher than about 4.3 billion pounds guided earlier.
Underlying trading profit for the full-year is expected to be more than or equal to 225 million pounds, up from the prior outlook of nearly 200 million pounds.
Serco said volumes of work concerning Covid-19 support to governments in the UK and Australia had risen; contracts across the businesses, particularly immigration-related in these two countries, performed better than estimates; healthcare insurance eligibility services contract (CMS) in the US, fared better in volumes in the light of Biden's decision to extend the open enrolment period.
The company also expects to conclude a few discussions in the current year, not 2022 as anticipated earlier.
Copyright RTT News/dpa-AFX
© 2021 AFX News
