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(Alliance News) - Serco Group PLC on Thursday reported increased profit and revenue for 2021 on strong organic growth and lifted its shareholder payout.
For 2021, the Hampshire-based provider of outsourced services for governments posted a pretax profit of GBP192.2 million, reflecting a 25% increase from GBP153.3 million in 2020.
Serco's trading profit grew 33% year-on-year to GBP233.4 million from GBP175.7 million.
This was on revenue growth of 14% to GBP4.42 billion from GBP3.88 billion reported in 2020.
Secro attributed this to high organic growth of 10%, or GBP391 million, driven by a strong performance of its UK and Australian businesses. Acquisitions contributed 6%, or GBP221 million, to its revenue.
Serco declared a final dividend of 1.61 pence, up 15% from 1.4p in 2020.
The company expects to report revenue of around GBP4.1 billion to GBP4.2 billion in 2022 and an underlying trading profit of roughly GBP195 million.
This would represent a revenue decrease of 5.2% to 7.8% and a decline in underlying trading profit of
17% from the GBP228.9 million reported for 2021.
Shares in Seco were up 0.8% at 127.06 pence each on Thursday in London.
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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