Last checked at (Sharecast News) - UK outsourcing contractor Serco has been awarded a contract extension worth a potential £870m to provide support services at the 5 Wing Canadian Forces base in Goose Bay.
The company on Wednesday said it anticipated annual revenue of £20m-£30m in the opening years of the initial £400m 10-year period. The contract has provision for two five-year extensions with a potential ceiling value to Serco over the full 20 years, including indexation, of around £870m.
Under the contract, which starts in September, Serco will continue to perform the majority of the non-military operation and maintenance functions at this base, located in Central Labrador, including aviation services such as air traffic control and maintenance of navigational aids.
26 Jan 2024 16:21
London close: Stocks finish higher as US inflation cools
(Sharecast News) - London's financial markets closed positively on Friday, as investors were buoyed by an optimistic consumer confidence survey and a lower-than-anticipated inflation reading from across the pond.
Read more