News on 21 February 2001
Serco’s 2000 prelims show increased growth as the
company announces plans for expansion in North America in partnership
with US corporations. The company’s turnover and pre tax profits
rose by 20% to £967m and £38m respectively.
The company sees PPPs and PFIs as a major source of opportunity and
is currently in advanced negotiations for the Highways Agency’s
new national Traffic Control Centre PFI. Serco is also discussing a
PPP with Atomic Weapons Establishment which would extend a ten year
contract by a further 15 years, and the company has been included on
the final shortlist of three for the National Air Traffic Services PPP.
Richard White, executive chairman, said: “Our bids for initiatives
such as the UK’s National Air Traffic Services PPP, the proposed
AWE PPP and the Future Strategic Tanker Aircraft PFI programme indicate
the scale of our ambition and capabilities. In pursuing opportunities
on this scale we will not forget that sustainable long term growth depends
on consistently excellent performance and organic growth cross the whole
spectrum of our contracts and businesses: these all continue to have
excellent prospects.”
Serco also disclosed that its future strategy would be to play to its
strengths in management and technology and focus on sectors such as
transport, defence, and the justice, education and science activities
of central and local government.
The company also plans to extend service contracts in the defence sector,
while expanding the depth and geographic spread of its capability.
