Serco aims to be a focused ‘business-to-government’ provider of a wide range of outsourced services. The five sectors served are defense, justice and immigration, transport, health and citizen services across the UK and the rest of Europe, the Americas, the Middle East, and Australia and New Zealand. Serco has exited several businesses that are not part of this core focus. The UK today accounts for c35% of revenues.
Following the announcement of outstanding 2021 results, the company unveiled plans for a 90 million pound ($121 million) share buyback; this is highly share price supportive in the present environment.
Serco, which kept its 2022 outlook unchanged, also increased its final dividend by 15% to 1.61 pence per share.
The company has been led by former British Prime Minister Winston Churchill’s grandson Soames since 2014 and has contracts in the defense, transport, justice and immigration sectors.