Serco set to flounder in the red and seek funding from investors after tagging scandal results in loss of contracts: Serco, the troubled outsourcing giant being probed by the Serious Fraud Office, is set to plunge into the red and is believed to be poised to ask investors for hundreds of millions of pounds.
There's no doubt that the work done in rebuilding Serco will pay off especially as the ban on UK Gov work has been lifted. Rupert Soames has a brilliant track record and is exactly what the business needs at this time. Some good positive news regarding contract wins is widely anticipated. IMHO a good buy at this price especially if you can hold for the next 6-9 months when it will be a completely different landscape and the SP will have recovered the majority of its previous dramatic fall.
With the CEO starting today , after the company had kitchen the numbers , rights issue etc , we now a CEO who did wonders at Agrekko and for him to leave such a company to join Serco , well that says everything . Good old Soames what he is doing . Note director buying as well. Will be interesting to see the Ceo's options scheme
Seems that the £800M contract award for the Caledonian line is having a positive effect on the SP. Now that UK Gov has lifted the block on Serco getting new work the order pipeline should steadily increase and that should reflect in the SP. People have such short memories!
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