The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksSerco Share News (SRP)

Share Price Information for Serco (SRP)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 185.10
Bid: 185.80
Ask: 185.90
Change: 1.50 (0.82%)
Spread: 0.10 (0.054%)
Open: 187.20
High: 187.20
Low: 183.30
Prev. Close: 183.60
SRP Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

LONDON MARKET PRE-OPEN: UK eyes Drahi BT stake buy; Serco ups outlook

Thu, 26th May 2022 07:58

(Alliance News) - Stock prices in London are seen opening lower on Thursday, after a top official in China warned on the world's second-largest economy, which has taken a hit from Beijing's strict zero-Covid policy.

IG futures indicate the FTSE 100 index will open 20.5 points, 0.3%, lower at 7,502.25. The blue-chip index closed up 38.40 points, or 0.5%, at 7,522.75 on Wednesday.

In early UK corporate news, Johnson Matthey set out a series of strategic objectives after a "very challenging" financial year. AJ Bell reported a "solid" first-half. Auto Trader upped its payout amid a sharp profit rise.

Elsewhere in the FTSE 100, BT said the UK government is probing a recent investment in the telecommunications operator on national security grounds.

In December, billionaire telecom tycoon Patrick Drahi's Altice lifted its stake in BT to 18% from 12% previously. The transaction has been referred to the UK's National Security & Investment Act 2021.

"BT Group will fully cooperate with this review," the company said.

Auto Trader reported an annual earnings rise and anticipates more growth ahead. It also expects its margins to withstand inflationary pressure.

In the year ended March 31, the vehicle marketplace reported a 65% revenue hike to GBP432.7 million from GBP262.8 million. Compared to financial 2020, largely pre-pandemic, revenue increased 17% from GBP368.9 million.

The chunkier year-on-year revenue rise stemmed from an easier comparative. Auto Trader noted it provided free advertising to retailer customers in April 2020, May 2020, December 2020 and February 2021 amid the Covid-19 pandemic. It also had provided a discounted rate in June 2020.

Auto Trader's pretax profit jumped 91% to GBP301.0 million from GBP157.4 million. It was up 20% from financial 2020's GBP251.5 million.

The company's annual payout totalled 8.2 pence per share, up 64% from 5.0p.

Average revenue per retailer surged 67% to GBP2,210 from GBP1,324. ARPR is the average monthly revenue generated from retailer forecourts divided by the average monthly number of retailers.

Looking ahead, it expects "another good year of ARPR growth".

"Despite pressure on costs, we anticipate operating profit margins to be consistent year-on-year at 70%," Auto Trader said.

"Despite growing economic uncertainty, the board is confident of meeting its growth expectations for the year."

London-based specialty chemicals firm Johnson Matthey recorded an annual revenue increase but profit came under pressure.

Results for the financial year that ended March 31 were in line with expectations, however.

Revenue climbed 3.8% to GBP16.03 billion from GBP15.44 billion. Pretax profit fell 13% to GBP195 million GBP224 million.

The company posted "major impairments and restructuring" costs of GBP440 million, up sharply from GBP154 million. It noted GBP325 million of these costs stemmed from the sale of its Battery Materials business.

Johnson Matthey upped its payout by 10% to 77.0 pence from 70.0p.

The one-time FTSE 100 constituent said it was a "very challenging year".

"We took important and necessary strategic decisions with the business portfolio, with the exit from Battery Materials and divestment of Health. I know many of our stakeholders were very disappointed, but these were essential actions to enable us to focus on attractive, high growth opportunities that have a vital role to play in the acceleration towards net zero. I, the rest of the board and the executive team are determined that we will restore value to our shareholders," Chair Patrick Thomas said.

The company set out a series of strategic objectives on Thursday, hailing its platinum group metals services arm as its "backbone". It also targets GBP150 million of cost savings by financial 2025.

A leaner Johnson Matthey will focus on "four businesses enabling the automotive, chemical and energy industries transition to net zero".

On Tuesday, FTSE Russell said Johnson Matthey is indicated to return to the FTSE 100 in the quarterly review next month.

Elsewhere in London, retail investment platform AJ Bell delivered a "solid performance" in its half year ended March, despite tough comparatives.

Revenue climbed 2.2% year-on-year to GBP75.5 million from GBP73.9 million, though pretax profit fell 17% to GBP26.1 million from GBP31.6 million.

"This is a very good result against a significantly more challenging market backdrop to that experienced in the first half of last year, when retail investor engagement and dealing activity was exceptionally high particularly in the direct-to-consumer market," Chief Executive Andy Bell said.

Assets under management increased to GBP74.1 billion from GBP72.8 billion at financial year end.

Inflows amounted to GBP5.5 billion, while outflows came to GBP2.7 billion. It saw a GBP1.5 billion hit from market movements.

AJ Bell lifted its payout by 13% to 2.78p per share from 2.46p.

Looking ahead, the company expects a "significant benefit" from a "higher interest rate environment".

Outsourcer Serco lifted its financial guidance in an impromptu trading update.

In the first four months of 2022, Serco has seen "stronger than expected trading" and favourable foreign exchange movements.

It now expects underlying trading profit at actual currency rates of GBP225 million, up about GBP30 million from prior guidance and with favourable currency movement contributing GBP10 million of that. This result would represent a 1.7% reduction from GBP229 million in 2021.

In Tokyo on Thursday, the Nikkei 225 ended down 0.3%. The Shanghai Composite was up 0.4%, while the Hang Seng in Hong Kong was 1.0% lower. The S&P/ASX 200 lost 0.7%.

China's premier has sounded an unusually stark warning about the world's second-largest economy, saying it must return to normal as the country's zero-Covid strategy bites into growth.

In some ways, the challenges now are "greater than when the pandemic hit hard in 2020", Premier Li Keqiang told a State Council meeting on Wednesday, according to a readout by the official Xinhua news agency.

"We are currently at a critical juncture in determining the economic trend of the whole year," Xinhua quoted Li as saying. "We must seize the time window and strive to bring the economy back onto a normal track."

In New York on Wednesday, the Dow Jones Industrial Average closed up 0.6%, the S&P 500 up 1.0% and the Nasdaq Composite up 1.5%.

Equities in New York climbed after the US Federal Reserve's latest meeting minutes offered little in the way of surprises.

Fed officials highlighted that interest rates need to rise quickly to rein in inflation and that hikes similar to the 50-basis-point one agreed at the May meeting may be necessary in the imminent future, minutes from the meeting showed.

Policy makers reaffirmed their determination to restore price stability and agreed that the Federal Open Market Committee should "expeditiously" move the stance of monetary policy toward a neutral posture. This would be achieved through both increases in the target range for the federal funds rate and reductions in the size of the Federal Reserve's balance sheet.

Further, most participants were of the view that 50-basis-point increases in the target range "would likely be appropriate at the next couple of meetings", the meeting minutes showed.

The pound was quoted at USD1.2553 early Thursday in London, firm on USD1.2547 at the London equities close on Wednesday. The euro stood at USD1.0666, down from USD1.0678. Against the yen, the dollar was trading at JPY127.20, down on JPY127.31.

Brent oil quoted at USD114.09 a barrel, up from USD113.93. Gold stood at USD1,846.13 an ounce, down from USD1,850.30.

The economic events calendar on Thursday has US economic growth figures and the latest jobless claims numbers at 1330 BST.

By Eric Cunha; ericcunha@alliancenews.com

Copyright 2022 Alliance News Limited. All Rights Reserved.

More News
29 Jun 2023 08:48

LONDON MARKET OPEN: Tough talk from central bankers sends stocks lower

(Alliance News) - Stock prices in London were lower on Thursday morning after major central bank chiefs made it clear on Wednesday that global interest rates will keep rising.

Read more
29 Jun 2023 07:56

LONDON BRIEFING: Stocks called lower; B&M reports strong trading

(Alliance News) - Stocks in London were set to open lower on Thursday, and the dollar was on the rise, as markets digested hawkish rhetoric from central bank chiefs.

Read more
29 Jun 2023 07:35

Serco lifts FY revenue, profit guidance after strong first half

(Sharecast News) - UK government outsourcer Serco lifted annual guidance on Thursday after a strong first half, driven by higher demand for its immigration services.

Read more
22 Jun 2023 15:44

UK earnings, trading statements calendar - next 7 days

Friday 23 June 
Vianet Group PLCFull Year Results
Monday 26 June 
Associated British Foods PLCTrading Statement
Carnival PLCHalf Year Results
Polar Capital Holdings PLCFull Year Results
Rio Tinto PLCHalf Year Results
SysGroup PLCFull Year Results
Tuesday 27 June 
Accsys Technologies PLCFull Year Results
CML Microsystems PLCFull Year Results
Telecom Plus PLCFull Year Results
PZ Cussons PLCTrading Statement
Petrofac LtdTrading Statement
ICG Enterprise Trust PLCTrading Statement
Wise PLCFull Year Results
Wednesday 28 June 
abrdn Private Equity Opportunities Trust PLCHalf Year Results
Harmony Energy Income Trust PLCHalf Year Results
SDCL Energy Efficiency Income Trust PLCFull Year Results
Schroder European Real Estate Investment Trust PLCHalf Year Results
Time Finance PLCTrading Statement
Thursday 29 June 
B&M European Value Retail SATrading Statement
Baltic Classifieds Group PLCFull Year Results
De La Rue PLCFull Year Results
Hunting PLCTrading Statement
James Latham PLCFull Year Results
Likewise Group PLCTrading Statement
Moonpig Group PLCFull Year Results
Serco Group PLCTrading Statement
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
15 Jun 2023 15:50

UK earnings, trading statements calendar - next 7 days

Friday 16 June 
Peel Hunt LtdFull Year Results
Record PLCFull Year Results
S-Ventures PLCFull Year Results
Tesco PLCTrading Statement
Monday 19 June 
Finsbury Food Group PLCTrading Statement
Triple Point Energy Transition PLCFull Year Results
Utilico Emerging Markets Trust PLCFull Year Results
Tuesday 20 June 
Enteq Technologies PLCFull Year Results
Gear4Music PLCFull Year Results
IG Design Group PLCFull Year Results
Intercede Group PLCFull Year Results
SThree PLCTrading Statement
Monks Investment Trust PLCFull Year Results
Wednesday 21 June 
Berkeley Group Holdings PLCFull Year Results
Halfords Group PLCFull Year Results
Liontrust Asset Management PLCFull Year Results
Thursday 22 June 
Alpha Financial Markets Consulting PLCFull Year Results
Cordiant Digital Infrastructure LtdFull Year Results
DS Smith PLCFull Year Results
First Property Group PLCFull Year Results
Manolete Partners PLCFull Year Results
Mulberry Group PLCFull Year Results
NCC Group PLCTrading Statement
Serco Group PLCTrading Statement
Speedy Hire PLCFull Year Results
Urban Logistics REIT PLCFull Year Results
Volex PLCFull Year Results
Whitbread PLCTrading Statement
XPS Pensions Group PLCFull Year Results

 

Read more
7 Jun 2023 11:31

IN BRIEF: IQE searching for new CFO as Pullen makes sudden exit

IQE PLC - Wales-based compound semiconductor wafer product supplier - Says Chief Financial Officer Tim Pullen has stepped down with effect from Tuesday. Pullen joined IQE as CFO in February 2019, having left the same position at Arm Holdings PLC. His previous employment includes leading roles at Tesco Mobile Ltd and Serco Group PLC. Reason for his departure from IQE has not been disclosed. Associate Director of Finance Neil Rummings is appointed acting CFO with immediate effect while IQE commences the search for a permanent successor. Rummings joined IQE in April 2017 and previously served as a director at PricewaterhouseCoopers International Ltd for over six years.

Read more
2 Jun 2023 15:44

UK dividends calendar - next 7 days

Monday 5 June 
Bakkavor Group PLCdividend payment date
Ecofin US Renewables Infrastructure Trust PLCdividend payment date
J Smart & Co (Contractors) PLCdividend payment date
Legal & General Group PLCdividend payment date
Weir Group PLCdividend payment date
Tuesday 6 June 
no events scheduled 
Wednesday 7 June 
AEW UK REIT PLCdividend payment date
Ecora Resources PLCdividend payment date
International Public Partnerships Ltddividend payment date
Porvair PLCdividend payment date
Relx PLCdividend payment date
Wickes Group PLCdividend payment date
Thursday 8 June 
AJ Bell PLCex-dividend payment date
Assura PLCex-dividend payment date
Aurora Investment Trust PLCex-dividend payment date
C&C Group PLCex-dividend payment date
Centrica PLCex-dividend payment date
Compass Group PLCex-dividend payment date
CT UK Capital & Income Investment Trust PLCex-dividend payment date
Develop North PLCex-dividend payment date
Dr Martens PLCex-dividend payment date
Edinburgh Investment Trust PLCex-dividend payment date
Empiric Student Property PLCex-dividend payment date
Energean PLCex-dividend payment date
FDM Group Holdings PLCex-dividend payment date
HSS Hire Group PLCex-dividend payment date
IntegraFin Holdings PLCex-dividend payment date
Johnson Matthey PLCex-dividend payment date
M&C Saatchi PLCex-dividend payment date
Momentum Multi-Asset Value Trust PLCex-dividend payment date
Morgan Advanced Materials PLCex-dividend payment date
Pacific Assets Trust PLCex-dividend payment date
Renew Holdings PLCex-dividend payment date
Restore PLCex-dividend payment date
J Sainsbury PLCex-dividend payment date
Smiths News PLCex-dividend payment date
Topps Tiles PLCex-dividend payment date
Triple Point Social Housing REIT PLCex-dividend payment date
Victorian Plumbing Group PLCex-dividend payment date
Vodafone Group PLCex-dividend payment date
Watkin Jones PLCex-dividend payment date
Worldwide Healthcare Trust PLCex-dividend payment date
WPP PLCex-dividend payment date
Young & Co.'s Brewery PLCex-dividend payment date
Friday 9 June 
Advanced Medical Solutions Group PLCdividend payment date
AG Barr PLCdividend payment date
Civitas Social Housing PLCdividend payment date
Diploma PLCdividend payment date
Focusrite PLCdividend payment date
Irish Continental Group PLCspecial ex-dividend payment date
James Halstead PLCdividend payment date
Serco Group PLCdividend payment date
SThree PLCdividend payment date
Witan Investment Trust PLCdividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
26 May 2023 17:17

Serco fined for failures that led to custody officer death

(Alliance News) - Security contractor Serco Group PLC has been fined more than GBP2 million for health and safety failings that led to a mentally-ill prisoner kicking a custody officer to death.

Read more
16 May 2023 15:12

Serco signs mobility services deal for new Saudi Arabia tourism spot

(Alliance News) - Serco Group PLC on Tuesday said it has been appointed by Red Sea Global to act as the managing agent for a full suite of mobility services across Saudi Arabia's new tourism destination, The Red Sea.

Read more
4 May 2023 16:11

UK dividends calendar - next 7 days

Friday 5 May 
Bellevue Healthcare Trust PLCdividend payment date
Breedon Group PLCdividend payment date
CT UK High Income Trust PLCdividend payment date
Ferguson PLCdividend payment date
Glanbia PLCdividend payment date
Hikma Pharmaceuticals PLCdividend payment date
International Personal Finance PLCdividend payment date
JPMorgan Multi-Asset Growth & Income PLCdividend payment date
Murray International Trust PLCdividend payment date
Pearson PLCdividend payment date
Persimmon PLCdividend payment date
Schroder European Real Estate Investment Trust PLCdividend payment date
Schroder Oriental Income Fund Ltddividend payment date
Monday 8 May 
no events scheduled 
Tuesday 9 May 
Alfa Financial Software Holdings PLCdividend payment date
Lookers PLCex-dividend payment date
Rathbones Group PLCdividend payment date
Wednesday 10 May 
Phoenix Group Holdings PLCdividend payment date
Spirent Communications PLCdividend payment date
Thursday 11 May 
abrdn Latin American Income Fund Ltdex-dividend payment date
abrdn Property Income Trust Ltdex-dividend payment date
AG Barr PLCex-dividend payment date
Alternative Income REIT PLCdividend payment date
Blackrock Smaller Companies Trust PLCex-dividend payment date
BP PLCex-dividend payment date
Centaur Media PLCex-dividend payment date
Clarkson PLCex-dividend payment date
Coca-Cola Europacific Partners PLCex-dividend payment date
Custodian Property Income REIT PLCex-dividend payment date
Domino's Pizza Group PLCdividend payment date
Emis Group PLCex-dividend payment date
F&C Investment Trust PLCdividend payment date
Fidelity Special Values PLCex-dividend payment date
Focusrite PLCex-dividend payment date
GCP Asset Backed Income Fund Ltdex-dividend payment date
EP Global Opportunities Trust PLCex-dividend payment date
Greencoat Renewables PLCex-dividend payment date
Greencoat UK Wind PLCex-dividend payment date
Gresham House PLCex-dividend payment date
Headlam Group PLCex-dividend payment date
Henderson International Income Trust PLCex-dividend payment date
Home REIT PLCex-dividend payment date
HSBC Holdings PLCex-dividend payment date
Inchcape PLCex-dividend payment date
Invesco Perpetual UK Smaller Companies Investment Trust PLCex-dividend payment date
James Halstead PLCex-dividend payment date
JPMorgan Claverhouse Investment Trust PLCex-dividend payment date
Macfarlane Group PLCex-dividend payment date
Mercantile Investment Trust PLCdividend payment date
MoneySupermarket.com PLCdividend payment date
Montanaro UK Smaller Cos Investment Trust PLCdividend payment date
Petershill Partners PLCex-dividend payment date
Reach PLCex-dividend payment date
Schroder Asian Total Return Investment Co PLCdividend payment date
SCS Group PLCdividend payment date
Serco Group PLCex-dividend payment date
Sportech PLCex-dividend payment date
Standard Chartered PLCdividend payment date
SThree PLCex-dividend payment date
Target Healthcare REIT PLCex-dividend payment date
Taylor Maritime Investments Ltdex-dividend payment date
Tesco PLCex-dividend payment date
Tritax Big Box REIT PLCex-dividend payment date
UK Commercial Property REIT Ltdex-dividend payment date
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
20 Apr 2023 15:39

UK shareholder meetings calendar - next 7 days

Friday 21 April 
Aukett Swanke Group PLCAGM
Murray International Trust PLCAGM
Senior PLCAGM
System1 Group PLCGM re board changes
Monday 24 April 
CentralNic Group PLCAGM
Ground Rents Income Fund PLCEGM re changes to the investment policy and new board fees
Tuesday 25 April 
Aquis Exchange PLCAGM
Beazley PLCAGM
Coro Energy PLCGM re disposal of the Italian natural gas assets
Entain PLCAGM
GlobalData PLCAGM
Hydro Hotel Eastbourne PLCAGM
NatWest Group PLCAGM
Schroder Asian Total Return Investment Co PLCAGM
SigmaRoc PLCAGM
VH Global Sustainable Energy Opportunities PLCAGM
Wednesday 26 April 
Alfa Financial Software Holdings PLCAGM
Anglo American PLCAGM
Breedon Group PLCAGM
Bunzl PLCAGM
Corcel PLCAGM
Croda International PLCAGM
Drax Group PLCAGM
Elementis PLCAGM
Global Invacom Group LtdAGM
Kazera Global PLCAGM
Metro Bank PLCAGM
Mobius Investment Trust PLCAGM
Nichols PLCAGM
One Media IP Group PLCAGM
Persimmon PLCAGM
RIT Capital Partners PLCAGM
Trian Investors 1 LtdEGM re share redemption
Trian Investors 1 LtdAGM
Thursday 27 April 
Admiral Group PLCAGM
AFC Energy PLCAGM
Alliance Trust PLCAGM
AstraZeneca PLCAGM
BP PLCAGM
CLS Holdings PLCAGM
CRH PLCAGM
Dalata Hotel Group PLCAGM
Dial Square Investments PLCAGM
F&C Investment Trust PLCAGM
Flutter Entertainment PLCAGM
Gresham House Renewable Energy VCT 1 PLCAGM
Gresham House Renewable Energy VCT 2 PLCAGM
Helios Towers PLCAGM
Ibstock PLCAGM
International Personal Finance PLCAGM
Kerry Group PLCAGM
London Stock Exchange Group PLCAGM
Pershing Square Holdings LtdAGM
Quixant PLCAGM
Schroders PLCAGM
Serco Group PLCAGM
Synectics PLCAGM
Taylor Wimpey PLCAGM
Weir Group PLCAGM
  
Copyright 2023 Alliance News Ltd. All Rights Reserved.

Read more
17 Apr 2023 13:59

DIRECTOR DEALINGS: 888 Chair Jon Mendelsohn buys 100,000 shares

(Alliance News) - The following is a round-up of share dealings by London-listed company directors and managers announced on Monday and not separately reported by Alliance News:

Read more
10 Mar 2023 13:11

Collapse of UK fraud office case raises resource, disclosure issues

LONDON, March 10 (Reuters) - The collapse of Britain's Serious Fraud Office's prosecution of three former executives at security company G4S on Friday raises serious questions about the agency's resources and criminal disclosure rules, lawyers and campaigners said.

Read more
9 Mar 2023 09:15

LONDON BROKER RATINGS: Liberum cuts National Express to 'sell'

(Alliance News) - The following London-listed shares received analyst recommendations Thursday morning:

Read more
9 Mar 2023 07:52

LONDON BRIEFING: Aviva announces buyback; Entain profit drops

(Alliance News) - With the US weekly unemployment claims report in focus, stocks in London were set to open lower on Thursday morning.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account