Monday, 29 June 2009

Serco bucks rivals’ gloomy outlook

(By Anthony Miller – Monday 29th June 2009 9:00am). Well that’s a relief! After depressing news from UK-based BPO rivals Mouchel (aka ‘Serco-lite’ – see Mouchel ticks the wrong boxes) a couple of weeks ago, and Xchanging a month earlier (see Xchanging ‘triple whammy’ revenue warning), Serco stuck to its upbeat outlook from a month ago (see Public sector paying off for Serco) with a positive pre-half-year-close trading update (see here). They also announced a very respectable £180m deal with the Aussie Government “to transform its immigration detention centres” (by the way, these have been a nagging and controversial issue in Oz for years). We still have very little visibility on Serco’s software and IT services activities. We keep trying to get them to ‘open the kimono’ but they are a bashful mob! We will persevere as we believe Serco is a ranking player in the UK SITS market and worthy of note.

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