Update re Environmental and Leisure businesses

RNS Number : 0621J

Serco Group PLC

15 December 2015

 

Update regarding Serco's Environmental Services and Leisure Businesses

15 December 2015

Serco Group plc ('Serco' or 'the Group'), today provides an update regarding our Environmental Services and Leisure businesses.  The recent agreement to dispose of the offshore private sector BPO operations has prompted us to review the previously stated intention to also dispose of our Environmental Services and Leisure businesses.  Our conclusion is that, for both strategic and financial reasons, the interests of the Group will be best served by retaining these businesses within the portfolio.  In common with the rest of the Group, they provide frontline services to public sector customers.  In particular, they serve Local Authorities in the UK, to whom we provide a number of other services and we feel that there is real merit in retaining a broad offering to these important customers.  Furthermore, the Environmental Services and Leisure businesses have continued to perform well both financially and operationally, and have a strong pipeline of opportunities.

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For further information please contact Serco:

Stuart Ford, Head of Investor Relations T [phone]

Marcus De Ville, Head of Media Relations T [phone]

About Serco

Serco is a leading provider of public services. Our customers are governments or others operating in the public sector.  We gain scale, expertise and diversification by operating internationally across five sectors and four geographies: Defence, Justice & Immigration, Transport, Health and Citizen Services, delivered in UK & Europe, North America, Asia Pacific and the Middle East.

More information can be found at www.serco.com

Forward looking statements

This announcement contains statements which are, or may be deemed to be, "forward looking statements" which are prospective in nature.  All statements other than statements of historical fact are forward looking statements.  Generally, words such as "expect", "anticipate", "may", "should", "will" and similar expressions identify forward looking statements.  By their nature, these forward looking statements are subject to a number of risks and uncertainties and actual results and events could differ materially from those currently being anticipated as reflected in such statements.  Factors which may cause future outcomes to differ from those foreseen in forward looking statements include, but are not limited to: general economic conditions and business conditions in Serco's markets; contracts awarded to Serco; customers' acceptance of Serco's products and services; operational problems; the actions of competitors, trading partners, creditors, rating agencies and others; the success or otherwise of partnering; changes in laws and governmental regulations; regulatory or legal actions, including the types of enforcement action pursued and the nature of remedies sought or imposed; the receipt of relevant third party and/or regulatory approvals; exchange rate fluctuations; the development and use of new technology; changes in public expectations and other changes to business conditions; wars and acts of terrorism; and cyber-attacks.  These forward looking statements speak only as of the date of this announcement.  Except as required by any applicable law or regulation, Serco expressly disclaims any obligation or undertaking to release publicly any updates or revisions to any forward looking statements contained in this announcement to reflect any change in Serco's expectations or any change in events, conditions or circumstances on which any such statement is based.

 

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