Preliminary Results December 2000
Date : 20 February 2001
2001 | 2000 | ||
| Turnover - including joint ventures | £1,141.2m | £957.9m | Up 19.1% |
| Profit before tax - pre goodwill amortisation | £46.4m | £37.7m | Up 22.9% |
| Earnings per share - pre goodwill amortisation | 8.46p | 6.78p | Up 24.8% |
| Dividend per share | 1.86p | 1.63p | Up 14.1% |
^ Including joint venture
* Restated to reflect a share capitalisation of five shares for every one held approved by shareholders on 5 April 2000
- Strong growth maintained: turnover up 19.7%, pre-tax profit up 20.0%, earnings per share up 20.4%.
- Contract renewals maintained: successful re-bids continued at over 90%.
- UK: major partnership begun with National Crime Squad. Serco are in advanced negotiations for the Highways Agency's new National Traffic Control Centre PFI.
- AWE: Atomic Weapons Establishment successfully phased-in, Nuclear Installations Inspectorate and Environment Agency praised our safety and environmental performance at AWE - contract extended to cover support for weapons convoys. Final negotiations for PPP to extend the contract from 10 to 25 years and raise £400 million private finance for the development of the AWE.
- NATS: Serco included in final shortlist of three for National Air Traffic Services publicprivate partnership.
- Continental Europe: technical services and facilities management contract won at Forsmark nuclear power station in Sweden. New contracts with CERN nuclear research facility and European Space Agency.
- Middle East: technical services contracts renewed at Dubai, Ras Al Khaimah and Sharjah International Airports, new air traffic management system phased-in at Dubai.
- North America: Federal Aviation Administration air traffic control contracts increased to 56 towers, giving scope for further expansion. Joint working group established with Lockheed Martin.
- Asia Pacific: In Australia Serco now provides 50% of all garrison support services. Acquisition completed in 2001 of The Hiser Group, one of the world's top three consultancies in IT usability.
Richard White, Executive Chairman, said:
"Our bids for initiatives such as the UK's National Air Traffic Services PPP, the proposed Atomic Weapons Establishment PPP and the Future Strategic Tanker Aircraft PFI programme indicate the scale of our ambition and capabilities. In pursuing opportunities on this scale we will not forget that sustainable long term growth depends on consistently excellent performance and organic growth across the whole spectrum of our contracts and businesses: these all continue to have excellent prospects."
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