July 31, 2019 / 6:41 AM / 3 months ago

British outsourcer Serco reports 29% jump in first-half underlying profit

FILE PHOTO: A Serco flag is seen flying alongside a Union flag outside Doncaster Prison in northern England in this December 13, 2011 file photograph. REUTERS/Darren Staples/File Photo

LONDON (Reuters) - British public-services outsourcer Serco (SRP.L) reported a 29% jump in first-half underlying trading profit driven by its American business and said on Wednesday it was confident of growing faster than the market for the next two years.

Profit at Serco, which provides health, security and immigration services to governments, rose to 51 million pounds on revenue that rose 6% at constant currency to 1.48 billion pounds.

Serco, which is coming to the end of a restructuring programme, stuck to its full-year guidance given in a trading update at the end of June.

Reporting by Georgina Prodhan, editing by Louise Heavens

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