Serco expects bigger profits thanks to Covid test-and-trace work
The outsourcing company Serco said has profits will be higher than expected in 2021 owing to greater demand from the UK government for its Covid-19 services, including test and trace.
Serco raised its full-year revenue guidance from £4.3bn to £4.4bn on Monday, helping underlying profits rise to at least £225m, up from previous forecasts of £200m.
The Hampshire-based company said the uplift could be explained by the fact the volume of its Covid-related work in the UK and Australia “has been higher and continued for longer than we anticipated”.
Serco runs large parts of the UK’s largely privatised test-and-trace service, which is labelled NHS test and trace. The firm runs a fifth of Covid-19 testing sites and half the tier 3 contact tracers, who
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