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Serco's partnership for the Barclays Cycle Hire scheme expanded

Date: 25 Oct 2011

Serco Group plc (Serco), the international service company, has been awarded an expansion to the contract for the Barclays Cycle Hire Scheme by Transport for London (TfL). Serco will work in partnership with TfL to support the scheme's expansion to East London, add new docking stations in West London and increase the number available in the existing area.

The contract expansion is in total valued at approximately £50m and will run until August 2015, in line with the existing £140m six-year contract awarded to Serco in August 2009. User revenues from the scheme are paid direct to Transport for London.

Serco will be responsible for the design, installation and operation of the expanded scheme to Tower Hamlets. Serco will build a number of new docking stations in West London surrounding the Westfield Shopping Centre as well as new docking stations and additional capacity at some existing sites in the current area of service.

The expansion will add over 200 new docking stations, approximately 4,500 new docking points, and approximately 2,300 new bikes into the scheme. On average around 25,000 customers use Barclays Cycle Hire each day and the scheme now has over 140,000 registered customers.

Serco has worked with TfL to make a number of developments to the service over the last year including: increasing the number of operational staff; introducing on-street maintenance for minor repairs to increase bike availability; securing storage facilities at Waterloo and King's Cross to replenish docking stations faster during peak periods; and, upgrading the software at payment terminals to improve transaction speeds and allow customers to undock bikes faster.

Chris Hyman, Chief Executive of Serco Group plc, said: "We are delighted to be expanding our partnership with Transport for London and the service that we will be providing to the city. We have made a number of developments to the scheme over the past year and are committed to continually improving the quality of the service that we are providing. This addition further expands the range of transport operations that Serco delivers on behalf of our customers to passengers and users in the UK and internationally."

This expanded contract broadens the range of transport solutions that Serco provides in London where it already operates the Docklands Light Railway, the Woolwich Ferry, Blackwall Tunnel under the Thames and maintains traffic signals for Transport for London.

For further information please contact Serco:
Stuart Ford, Head of Investor Relations T +44 (0) 208 334 4122
Dominic Cheetham, Director of Corporate Communications T +44 (0) 208 334 4334
Marcus De Ville, Head of Media Relations T +44 (0) 208 334 4388

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Last Updated: 25 Oct 2011