Now That's What I Call A Spee-Camera Partnership!
Discussion
Orders Set To Put Serco On Track For Forecasts
Thu 2 Sep 2004
SCOTT REID
SERCO, the public sector services specialist, is confident that a forward order book totalling more than £10 billion will put it on track to meet City forecasts.
First-half earnings at the group, which runs London’s Docklands Light Railway and also operates speed cameras on behalf of local authorities, rose 16.5 per cent on the back of fresh contracts and "strong organic growth".
Serco said it had a confirmed forward order book of £10.3bn, but this was likely to increase by £2.6bn from deals where it was the preferred bidder. This included a £2bn deal to operate rail services across the north of England.
In July, the firm, together with its Dutch partner NedRailways, was selected as preferred bidder for the Northern rail franchise.........
.......The group, which manages and operates air traffic control towers, railway networks and prisons for governments around the world, said improved profits came on the back of growth in existing business and renewed contracts, rather than acquisitions, and Mr Beeston said he expected this trend to continue......
...........Commenting on the latest numbers, Bridgewell Securities analyst Michael Donnelly said strong cash generation and rising cash conversion rates were always welcome. He maintained an overweight recommendation on Serco shares.........
From:
http://edinburghnews.scotsman.com/business.cfm?id=1030752004
Thu 2 Sep 2004
SCOTT REID
SERCO, the public sector services specialist, is confident that a forward order book totalling more than £10 billion will put it on track to meet City forecasts.
First-half earnings at the group, which runs London’s Docklands Light Railway and also operates speed cameras on behalf of local authorities, rose 16.5 per cent on the back of fresh contracts and "strong organic growth".
Serco said it had a confirmed forward order book of £10.3bn, but this was likely to increase by £2.6bn from deals where it was the preferred bidder. This included a £2bn deal to operate rail services across the north of England.
In July, the firm, together with its Dutch partner NedRailways, was selected as preferred bidder for the Northern rail franchise.........
.......The group, which manages and operates air traffic control towers, railway networks and prisons for governments around the world, said improved profits came on the back of growth in existing business and renewed contracts, rather than acquisitions, and Mr Beeston said he expected this trend to continue......
...........Commenting on the latest numbers, Bridgewell Securities analyst Michael Donnelly said strong cash generation and rising cash conversion rates were always welcome. He maintained an overweight recommendation on Serco shares.........
From:
http://edinburghnews.scotsman.com/business.cfm?id=1030752004
Gassing Station | Speed, Plod & the Law | Top of Page | What's New | My Stuff