Serco expects profits hike after test and trace contracts extended

SectorFinancial Markets
CountryMiddle east

Outsourcing giant Serco has raised its revenue and profits forecasts for 2020 as a result of the growth in work with the global pandemic.Updating the London Stock Exchange in an unscheduled announcement, the company, which is involved in providing the UK government's test and trace scheme, said it had achieved strong revenue growth in the three months from July. It highlighted extensions to its contracts to provide test sites and call handlers, which the firm said was "an indication more...