The Leading News & Information Service For The Facilities, Workplace & Built Environment Community

Serco Sends 'Sorry' Signals

12 August 2014 | Updated 01 January 1970
Pictured: Kevin Craven, CEO of Balfour Beatty Services, has handed in his ticket to join Serco as CEO, UK Central Government division

Rupert Soames, Serco Group Chief Executive Officer, said this morning (Tues 12 Aug): "As expected, trading was poor in the first half.  Profits were in line with our revised expectations and cash flow and net debt were better.  We are making good progress with our Strategy Review, and in rebuilding trust and confidence with the UK Government.  Many challenges remain and we have a lot of work to do but I am confident that, in time, we can restore the company's fortunes."



"Good progress has been made strengthening the organisation structure and leadership. Angus Cockburn, currently Interim Group CEO at Aggreko, will be joining us as CFO in October; Kevin Craven, CEO of Balfour Beatty Services, will join in September as CEO of our UK Central Government division; Liz Benison, previously VP and General Manager of Computer Science Corporation's UK business, will be joining as CEO of our UK & Europe Local & Regional Government division also in September; and David Eveleigh, General Counsel of BT Global Services, will join as Group General Counsel and Company Secretary in November.  These are strong appointments.

"We have also moved to simplify and rationalise our Group structure in the AMEAA region."



A half-year report says Serco's 'Revenue' is steady but profitability is down.

Serco was hit hard by its UK scandals but made good ground in the US and AMEAA.

The firm saw £2.5bn of contract awards in the reporting period.

Article written by Brian Shillibeer | Published 12 August 2014


Related Articles

Employers And Employees Show New Year Optimism

The Hays UK Salary & Recruiting Trends 2018 guide shows that businesses have an optimistic outlook, with 59% expecting their business activity to increase over the...

 Read Full Article
Engineering - Game Afoot To Bridge Skills Gap

The Government's Industrial strategy is only viable if it tackles the skills gap, say employers while a new report reveals there is a lack of diversity in the...

 Read Full Article
THINK! Drink

Tell your friends not to drink drive this festive period says the latest THINK! campaign which started on December 7. For this year’s campaign, which runs to...

 Read Full Article
McDonalds Security Contractor In 'Remove Your Hijab' Scandal

Thursday evening, November 30, McDonalds Restaurants discovered the hard way that a relationship with a contractor - in this case, employing cheap, untrained security...

 Read Full Article
Breathing Life Into London's Lungs As Pollution Death Rate Rises

The Mayor of London, Sadiq Khan, has strengthened his commitment to protect London’s Green Belt and other important open spaces for future generations and set out...

 Read Full Article
RBS Swings Environmental Axe In National Tree Week

In one year, the energy saving additive EndoTherm has helped RBS to reduce its energy consumption by 29% and carbon emissions by 10 tonnes. The new innovation, a...

 Read Full Article
All Aboard On The Air Quality Charabanc

Local authorities and bus companies in Bristol, York, Brighton, Surrey, Denbighshire and Wiltshire have been awarded 11 million funding under the government’s...

 Read Full Article
Annie Sees Hard-knock Life As IWGB Files Landmark Case

On Tuesday 21, the Independent Workers’ Union of Great Britain (IWGB) filed what could turn out to be a landmark test case. The IWGB will argue that outsourced...

 Read Full Article
The Gig Economy - May Pressed To Hit Bogus Deals

The Work and Pensions and Business, Energy and Industrial Strategy Committees have published a joint report and draft Bill to close the loopholes that allow companies to...

 Read Full Article
Sellafield Bunkers Down For Mitie Workers' Nuclear Strikes

GMB members employed as ancillary staff by contractor Mitie at Sellafield are to strike on Wednesday, November 29 over below inflation wage increases - with the Union...

 Read Full Article