Serco first dividend in 7 years

PROFITS at outsourcing giant Serco have climbed 35 per cent to £103.7million, thanks to Britain’s test and trace programme and its acquisitions in the US and Australia.

The performance was so strong it will pay its first interim dividend since 2014, when the company was on its knees following a series of profit warnings, a ban on bidding for Government contracts and a prisoner tagging scandal. Chief executive Rupert Soames said 17 per cent of first half revenues, which had risen 19 per cent to £2.2billion, were directly linked to Covid-19.