Dec 17 (Reuters) - British outsourcing firm Serco on Wednesday forecast profit ahead of analyst expectations for this year and next, boosted by a strong order book of defence contracts in the UK and
Serco's Profit Forecast Exceeds Market Expectations Until 2026
Dec 17 (Reuters) - British outsourcing firm Serco on Wednesday forecast profit ahead of analyst expectations for this year and next, boosted by a strong order book of defence contracts in the UK and North America.
The company, which delivers defence, security, immigration, health and transport services to governments, has benefited from a surge in contracts as countries boost defence spending amid rising geopolitical tensions.
Serco expects its underlying operating profit to be around 270 million pounds ($359.91 million) for 2025 and 300 million pounds for 2026.
Analysts, on average, estimate 263 million pounds for 2025 and 285 million pounds for 2026, according to a company-compiled poll.
Separately, Serco said its finance chief, Nigel Crossley, would retire after 11 years with the firm and be replaced by the CFO of Belgian telecoms group Proximus Mark Reid next year.
($1 = 0.7502 pounds)
(Reporting by Yamini Kalia in Bengaluru; Editing by Subhranshu Sahu)
