UK services company鈥檚 2007 results show profits up 6.7% and turnover 10.3%

International services company Serco has announced a 10.3% rise in revenue.

The firm鈥檚 turnover for 2007 stood at 拢2.8bn, up from 拢2.5bn last year. The preliminary results also show a 6.7% rise in profit, to 拢114.6m.

The company鈥檚 international business grew substantially last year, with deals won including a $260m (拢130.6m) contract with the US Postal Service, the Aus$100m (拢47.2m) Borallon Correctional Centre in Queensland, and preferred bidder status for operation of the Dubai Metro (a contract worth up to 拢400m).

Serco鈥檚 home market performance has also seen major wins, such as a defence marine services contract for 拢750m, an integrated facilities win at Forth Valley worth 拢450m and preferred bidder status for a Glasgow City Council strategic partnership contract worth 拢265m.

Christopher Hyman, chief executive of Serco Group plc, said that 2007 had been 鈥渁n excellent year鈥�. He added: 鈥淲e were awarded significant contracts in existing markets and used skills developed in the UK to build positions in markets such as Australian home affairs and Middle Eastern transport.

鈥淲e also reaped the benefits of the capabilities we have acquired in recent years, winning record levels of work in the US, securing the prestigious e-Borders programme in the UK and one of the first local authority strategic partnerships. At the same time, we further increased our margins. This success underpins our optimism for 2008 and beyond.鈥�

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