June 29, 2018 / 6:22 AM / 5 months ago

UK outsourcer Serco keeps 2018 profit goal but sees lower revenue range

EDINBURGH, June 29 (Reuters) - British outsourcer Serco expects lower revenues than previously targeted for 2018 but is still on course for underlying profit of 80 million pounds ($105 million), reflecting a bigger cost savings effort, it said on Friday.

Serco, which provides services to public defence, justice, transport and welfare departments in Britain and abroad, said first half revenue was expected at around 1.35 billion pounds with underlying trading profit expected to be 35 to 40 million pounds.

Guidance for the full year is revenues of 2.7 to 2.8 billion pounds versus previous guidance of 2.8 to 2.9 billion pounds. ($1 = 0.7627 pounds) (Reporting by Elisabeth O’Leary, editing by James Davey)

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