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Serco has operated and maintained Docklands Light Railway (DLR) since 1997.
During that time, we have played an important part in making DLR one of the most successful railways in the world by delivered high levels of punctuality, reliability, safety and security, winning an unprecedented number of industry awards.

We advise

policy makers, design innovative solutions, integrate services and systems and deliver to the public

Interim Results June 2002

Date : 05 September 2002

 
6 Months to 30.6.02
Restated 
6 Months 30.6.01
 
Turnover
£625.9m
£525.9m
Up 19.0%
Profit before tax - pre goodwill
£28.4m
£24.4m
Up 16.4%
Earnings per share
0.64p
0.57p
Up 12.3%
    
Underlying pre-tax profit - pre goodwill *
£27.3m
£22.7m
Up 20.5%

* Underlying pre-tax profit is calculated after adjusting for the effect of acquisitions and non-recurring items. A reconciliation together with more information on our financial performance and accounting policies is in the Financial Review included in this announcement. 

Serco on track for 15th year of growth:

  • Strong organic growth
    - 42% of first half growth from existing contract base
  • Record value of bids submitted at £4.7bn
  • Continued success in winning contracts
    - Contracts signed totalling £400m
    - 62 new contracts awarded
    - Further 56 contracts successfully rebid or extended, maintaining 90% success rate
    - Appointed preferred bidder for contracts totalling a further £250m, including Skynet 5 for global military satellite communications for UK armed forces
  • International growth continues
    - Awarded one of the Middle East's first multi-activity outsourcing contracts from Dubai Ports, Customs and Free Zone Corporation
  • Continuing visibility of earnings
    - 98% of 2002 forecast revenues already secured
  • Forward order book of £6bn   

Kevin Beeston, Executive Chairman, said:
"We are on track for a 15th successive year of strong growth. At £6 billion our forward order book remains buoyant and our future earnings are highly visible. During the first half we submitted a record level of bids valued at £4.7 billion and are currently addressing a further £12 billion of opportunities. 

In the UK, the additional spending announced by the government in its Comprehensive Spending Review will further enhance our growth prospects; while our existing portfolio of international markets will generate a continuing flow of new opportunities. We are confident of achieving strong growth for the remainder of 2002, and for the longer term we anticipate sustained double-digit organic growth." 

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Last Updated: 20 April 2009