Serco said it could benefit from Brexit in the short term if the Government “needs help quickly”, as the company lifted its revenue guidance for the year after a string of new contract wins. Serco said it could benefit from Brexit in the short term if the Government “needs help quickly”, as the company lifted its revenue guidance for the year after a string of new contract wins. The company generated £2.8 billion of revenue last year, down 2% from 2017, while underlying trading profit rose 40% to £93.1 million as the group cut costs. Serco expects 2019 revenue to be between £2.9 billion and £3 billion, up from its previous guidance of £2.8 billion to £2.9 billion. Underlying trading profit is expected to come to £150 million, which tops the company’s previously guided range of between £95 million and £100 million.

Source: Irish Independent February 21, 2019 12:33 UTC