Outsourcer orders boost

ORDER books have swelled to a five-year high at Serco.

The outsourcer said orders hit around £4bn for the year ending in June, boosted by a £1.5bn contract to run a prison in Australia. Half-year revenues would be ‘broadly flat’ at £1.5bn. Underlying trading profit would drop 31pc to £35m, down from £51m in 2016 when the performance was lifted by ‘nonrecurring trading items’.