It's too soon to get back into Serco, Nomura says
5th Apr 2016 16:29
(ShareCast News) - It was too soon to jump back into shares of Serco, analysts at Nomura believed. The provider of services outsourcing for national and local governments was still facing a difficult outlook, the broker said. Serco's management believed it would be able to lower the company's net d
Read moreBroker tips: Electrocomponents, Tesco, Serco
5th Apr 2016 15:49
(ShareCast News) - Electrocomponents rallied as Numis upgraded its price target to 295p from 275p and reiterated its 'buy' rating on Monday following a trading update. The company said it expected full year profits to hit the top end of market expectations after a solid fourth quarter in which the U
Read moreSerco consortium extends UK nuclear deterrent contract
31st Mar 2016 08:24
(ShareCast News) - A consortium including government outsourcing specialist Serco has won a new framework contract from the Ministry of Defence (MoD) to manage the UK's nuclear warheads via the Atomic Weapons Establishment through to 2025. The AWE Management Limited (AWE ML) consortium, a joint vent
Read moreFTSE 250 movers: Serco results boost index
25th Feb 2016 14:58
(ShareCast News) - The FTSE 250 surged on Thursday, up 277.90 points (1.72%) to 16,395.40 by mid-afternoon. Serco Group topped the risers after it reported a significantly narrower pre-tax loss for 2015. For the year ended 31 December, the loss narrowed to £69.4m from £990.5m the previous year. Th
Read moreSerco surges as 2015 loss narrows significantly
25th Feb 2016 08:56
(ShareCast News) - Shares in outsourcer Serco rocketed on Thursday after it reported a significantly narrower pre-tax loss for 2015. For the year ended 31 December, the loss narrowed to £69.4m from £990.5m the previous year. The much-improved performance came despite a fall in revenue to £3.2bn fro
Read moreSerco wins contract extension at Australia's largest prison
24th Feb 2016 07:29
(ShareCast News) - Australia's largest prison was to be operated by Serco for another five years, it was revealed on Wednesday, as the firm signed an extension to its contract with the Government of Western Australia. The FTSE 250 service company said the total value of the contract extension was ex
Read moreTuesday broker round-up
19th Jan 2016 14:22
(ShareCast News) - Royal Dutch Shell: Cannacord Genuity lowers target from 1,775p to 1,550p and reiterates hold. Burberry Group: Liberum reiterates sell with a 925p target; RBC reiterates neutral yet trims target from 1,300p to 1,275p; UBS up target from 1,400p to 1,500p staying at buy. Tullow Oil:
Read moreHSBC upgrades Serco to hold despite weak growth outlook
19th Jan 2016 10:15
(ShareCast News) - Despite a weak growth outlook, HSBC has upgraded Serco Group from 'reduce' to 'hold', keeping its target price of 77p. In a note on Tuesday, the investment bank noted that UK public sector outsourcing was still "lacklustre" and that any new contract wins won't contribute much to t
Read moreSerco does about turn on sale of Environmental Services and Leisure businesses
15th Dec 2015 08:01
(ShareCast News) - Serco has decided not to dispose of its Environmental Services and Leisure businesses. The FTSE 250 company made the announcement on Tuesday, citing strategic and financial reasons. It follows the disposal of its offshore private sector Business Process Outsourcing operations to
Read moreSerco loses £132.5m New Zealand prison contract
9th Dec 2015 07:56
(ShareCast News) - UK-listed Serco has been told that its contract to run Mt Eden Prison in Auckland, New Zealand will not be renewed. Newstalk ZB reported Cabinet announced the decision overnight UK time after it was recommended by Department of Corrections chief executive Ray Smith. Serco will ha
Read moreSerco slumps as it warns over 2016 profit
7th Dec 2015 07:32
(ShareCast News) - Shares in Serco fell sharply after the outsourcer said it expects revenue and trading profit to fall in 2016 partly due in part to the disposal of its offshore call centre, although underlying profit for 2015 is expected to be ahead of guidance. Serco said it now expects revenue o
Read moreSerco agrees amendments for Australian contract
9th Nov 2015 08:25
(ShareCast News) - Outsourcing firm Serco Group and the Australian government have reached a deal to amend the terms of a loss-making deal for Armidale Class Patrol Boats. The amendments mean the deal will now end in 2017, five years earlier than originally scheduled, after the group booked a £136m
Read moreFTSE 250 movers: Serco and Petra lift mid-caps
2nd Nov 2015 14:50
(ShareCast News) - Recovering from an initial lurch lower, the FTSE 250 index scrambled higher over the course of Monday's session, helped by optimism in some mining investors. Serco was top riser among London's mid-caps, however, as the outsourcing group was boosted by RBC Capital Markets upgrading
Read moreSerco rallies on RBC upgrade
2nd Nov 2015 12:01
(ShareCast News) - Shares in outsourcing group Serco got a boost after RBC Capital Markets upgraded the stock to 'sector perform' from 'underperform', keeping the price target at 9,500p. "Whilst risks clearly remain and the recovery will take time, for the first time in a while we see more limited d
Read moreLondon close: Stocks up as US inflation exceeds forecasts
15th Oct 2015 16:15
(ShareCast News) - The UK equity market was in positive territory on Thursday after US inflation data beat forecasts. The US consumer price index for September came in flat from a year ago, better than the 0.1% dip forecast by analysts and following a 0.2% increase in August. Compared to a month ag
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