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Serco Group PLC (SRP.L)

SRP.L on London Stock Exchange

96.95GBp
22 Jun 2018
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Latest Key Developments (Source: Significant Developments)

Serco Awarded $600 Million Single-Award ID/IQ Contract to Support Disaster Recovery
Tuesday, 2 Jan 2018 

Jan 2 (Reuters) - Serco Group Plc ::AWARDED A POSITION ON FEDERAL EMERGENCY MANAGEMENT AGENCY (FEMA) PUBLIC ASSISTANCE TECHNICAL ASSISTANCE CONTRACT (PA TAC) IV.RECEIVED A SINGLE-AWARD INDEFINITE DELIVERY, INDEFINITE QUANTITY (ID/IQ) CONTRACT THAT HAS A CEILING VALUE OF $600 MILLION OVER NEXT FIVE YEARS.  Full Article

Serco Group says standing down on Middle East Light Rail Bids
Monday, 13 Nov 2017 

Nov 13 (Reuters) - Serco Group Plc :TENDERING PROCESS FOR MIDDLE EAST RAIL OPPORTUNITIES IS TAKING MUCH LONGER THAN ANTICIPATED, DECIDED TO STAND DOWN BIDDING TEAMS AND REDIRECT EFFORTS ELSEWHERE​.THE BIDS REPRESENTED AN AGGREGATE £2.5BN OF £7.9BN PIPELINE; THEY WILL NO LONGER BE PART OF NEXT PIPELINE UPDATE THAT WILL BE REPORTED WITHIN FY RESULTS.  Full Article

Serco wins 26 mln stg extension to pilot training contract
Thursday, 26 Oct 2017 

Oct 26 (Reuters) - SERCO GROUP PLC ::AWARDED EXTENSION TO HELICOPTER PILOT TRAINING CONTRACT AT RAF BENSON‍​.EXTENSION WILL SEE THE CONTRACT CONTINUE UNTIL AT LEAST OCTOBER 2025‍​.EXTENSION HAS A TOTAL ESTIMATED CONTRACT VALUE OF 26 MLN STG OVER THE EIGHT YEAR TERM, WITH POTENTIAL OPTIONS TO FURTHER EXTEND THE CONTRACT TO 2037.  Full Article

Serco ‍to acquire BTP Systems for $20 mln​
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Serco Group Plc ::SERCO GROUP PLC - ‍TO ACQUIRE BTP SYSTEMS LLC ON A CASH-FREE, DEBT-FREE BASIS FOR $20M​.SERCO GROUP PLC - ‍ACQUISITION, SUBJECT TO REQUIRED APPROVALS, IS EXPECTED TO COMPLETE AROUND END OF YEAR​.  Full Article

Carillion updates on financing, disposals and work winning
Tuesday, 24 Oct 2017 

Oct 24 (Reuters) - Carillion Plc ::UPDATE ON FINANCING, DISPOSALS AND WORK WINNING.CARILLION PLC - ‍PROVIDES AN UPDATE ON DISCUSSIONS WITH ITS CREDITORS, DISPOSALS AND NEW CONTRACT WINS.​.CARILLION PLC - ‍SIGNING OF TWO COMMITTED FACILITIES, TOTALLING £140 MILLION, AS CONTEMPLATED BY THIS TERM SHEET​.CARILLION PLC - ‍ADDITIONAL LIQUIDITY IS FULLY AVAILABLE TO DRAW DOWN NOW​.‍THERE IS NO CHANGE TO 2017 GUIDANCE​.CARILLION - AGREED NEW COMMITTED BONDING FACILITIES, WITH DEFERRAL OF CERTAIN PENSION CONTRIBUTIONS.CARILLION PLC - ALSO AGREED TO ‍DEFERRAL OF REPAYMENT OF PRIVATE PLACEMENT NOTES DUE IN NOVEMBER 2017 AND SEPTEMBER​.CARILLION PLC - ‍DEFERRALS WILL BE UNTIL EARLIER OF FIVE BUSINESS DAYS FOLLOWING, (I) REPAYMENT OF NEW COMMITTED FACILITIES, AND (II) 1 JANUARY 2019​.CARILLION - ‍NEW FACILITIES AND AGREED DEFERRALS OUTLINED ABOVE IMPROVE GROUP COMMITTED HEADROOM THROUGHOUT 2018 BY BETWEEN APPROXIMATELY £170M AND £190M​.CARILLION - SIGNED HEADS OF TERMS WITH SERCO FOR DISPOSAL OF A LARGE PART OF ITS UK HEALTHCARE FACILITIES MANAGEMENT BUSINESS FOR AN AGREED PRICE OF £50.1M​.CARILLION PLC - ‍HAS AGREED TO GIVE SERCO A PERIOD OF EXCLUSIVITY TO PROVIDE PARTIES WITH TIME TO FINALISE A BUSINESS PURCHASE AGREEMENT.CARILLION PLC - ‍TRANSFERS OF CONTRACTS PURSUANT TO THIS DISPOSAL ARE EACH SUBJECT TO RECEIPT OF THIRD PARTY CONSENTS, AND, IF REQUIRED, SHAREHOLDER APPROVAL​.  Full Article

Serco says appointed preferred bidder in Barts Health NHS trust tender
Thursday, 22 Sep 2016 

Serco Group Plc : Statement re Barts Health NHS trust tender . Confirms that it has received notification that it has been appointed preferred bidder . Trust's procurement has an estimated total value of up to 600 million stg over a potential 10-year term .There is currently a mandatory standstill period following appointment decision.  Full Article

Serco forecasts higher full-year profit
Thursday, 4 Aug 2016 

Serco Group Plc : H1 revenue 1.518 billion stg versus 1.789 billion stg year ago . 2016 half year results . H1 underlying trading eps 3.7 pence . £0.9bn total value of signed contracts, of which 16 are worth more than £10m each . Pipeline of larger new bid opportunities of £7.3bn, an increase of £0.8bn over period and £2.3bn year-on-year . Board has not declared an interim dividend for 2016 . Targeted for 2016 achieving over £50m of overhead and other cost reductions from central support functions and other overheads . Too early to say how this will play out; our largest customers - ministry of defence and ministry of justice - are amongst least exposed to brexit issues . Overall, we think that brexit offers both risks and opportunities for serco . H1 revenue - continuing and discontinued operations (1) £1,517.9m versus £1,789.3m year earlier . H1 underlying trading profit (2) £51.0m versus £46.9m year earlier . Better trading performance and currency movements lead us to increase guidance for 2016; latest expectations are revenue of approximately £3.0bn and underlying trading profit of not less than £80m . View of 2017 not materially changed on a constant currency basis . Have removed some £550m from our operating costs - ceo . Definition we use for our reported pipeline is new bid opportunities with annual revenue of at least £10m . Must consider how brexit might affect our business with british government.  Full Article

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