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Serco forecasts better than expected full-year profit and revenue

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By Reuters

(Reuters) – Serco Group <SRP.L> expects full-year profit and revenue to beat market expectations, the British outsourcing company said on Friday, citing better operating performance and lower costs at the start of the second half.

The company expects revenue of about 2.8 billion pounds and underlying trading profit of between 90 million pounds and 95 million pounds.

The company also said that the full-year results would be boosted by a number of non-recurring trading items, such as end-of-contract settlements and other commercial negotiations.

(Reporting by Arathy S Nair in Bengaluru; Editing by David Goodman)