Serco Group plc (SRP.L), on Thursday, announced a strong first-half performance for the period ended 30 June 2025, with reported revenue rising to GBP2,419 million from GBP2,359 million in the prior year, reflecting a 3% increase at reported currency and 5% at constant currency.
Underlying operating profit grew 2% year-over-year to GBP146 million, while reported operating profit also rose 2% to GBP132 million. Underlying earnings per share increased 12% to 9.60 pence, and reported EPS similarly rose 12% to 8.60 pence.
The interim dividend per share was raised by 8% to 1.45 pence. Free cash flow improved significantly to GBP91 million, up from GBP75 million last year, and net cash inflow from operating activities rose 3% to GBP195 million. Adjusted net debt nearly doubled to GBP259 million, while reported net debt increased 24% to GBP783 million.
Backed by strong momentum and a robust order book, Serco announced a new GBP50 million share buyback and reaffirmed its full-year guidance, citing continued growth in its defence-focused North American business and a healthy pipeline of opportunities.
The company continues to project FY25 revenue to be about GBP4.9 billion, with organic sales growth of about 1%.
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