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SERCO
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Company Information
8th December 2008
Serco operates as a service company in the UK and overseas. It operates in four segments; Civil Government, Defense, Transport and Science.The Civil Government segment provides home affairs, IT outsourcing, integrated facilities management, consulting, health, education and children's services.It offers border protection, prison management, education services, environmental services, government portal management, health and hospital management, IT and IT-enabled services, and management consultancy services. The defense segment covers support to the armed forcesincluding command and control, defense establishment support, cost analysis, logistics, marine services, port security, risk and safety management, secure IT support and personnel services. The transport segment operates Merseyrail and Northern Rail and other trans-continental services abroad.Operates the Docklands Light Railway. Traffic management systems and air-traffic control services.The science segment operates national physical laboratory and the UK atomic weapons establishment. Also provides independent nuclear safety, environmental, risk, and asset management advice as well as operational solutions for the nuclear sites.
Serco has a market capitalisation of £1,926m (at 396p) Historic p/e 23.34 and a yield of 0.919%. The dividend is covered nearly four times. Years high and low: 471.75 (16/6/2008) and 326.25 (16/10/2008). Consensus pre-tax forecast £144.55m EPS 21.80p
Serco has a good chance of moving up to the FTSE100
History
Serco was formed in 1929 when Radio Corporation of America formed a UK subsidiary RCA Services Limited to support their growing cinema industry.In 1960 the company won a strategic contract which was to shape it's future direction; a maintenance contract for the UK Ballistic Missile Early Warning System. at Fylingdales.. Two subsequent markets emerged, The European Space Agency and the GLC who awarded them contracts to maintain London's traffic signals.In 1987 there was a management buyout of RCA Srvices and the company was renamed Serco. Serco achieved a full LSE listing in 1988. At this time private sector organisations saw the value of outsourcing support systems.Serco won business in the civil government, transport and commercial/industrial markets.
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