Pre-Close Trading Update
Date: 28 Jun 2011
Ahead of meetings with analysts prior to its half year end on 30 June 2011, Serco Group plc (Serco) reconfirms the guidance given in its Interim Management Statement on 9 May 2011.
For 2011, we expect good organic revenue growth and progress towards our 2012 margin guidance. By the end of 2012 we expect increases in revenue to approximately £5bn and in Adjusted operating profit margin to approximately 6.3%; these increases exclude material acquisitions, disposals and currency effects.
We remain encouraged by the developments in our markets across the world. However, as previously noted, the market in the UK remains challenging, with short-term headwinds resulting from government austerity measures, together with some uncertainties regarding public service reform.
The acquisition of Intelenet, announced on 31 May 2011, is expected to complete in the coming weeks.
Serco will release its 2011 half year results on 24 August 2011.
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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