UK's Serco warns of lower 2022 revenue, profit as COVID-19 services wind down


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- Serco Group Plc warned of lower revenue and profit in 2022 on Thursday, as the British outsourcer that supports the COVID-19 test-and-trace programme expects demand for pandemic services to fall next year.

Issuing 2022 outlook for the first time ahead of its capital markets event, Serco expects revenue would be in the range of 4.1 billion to 4.2 billion pounds ($5.58 billion) in 2022, about 6% lower than 2021 forecast and underlying trading profit of around 195 million pounds, compared with at least 225 million pounds expected for 2021.

($1 = 0.7523 pounds)

 

(Reporting by Yadarisa Shabong in Bengaluru; Editing by Rashmi Aich)

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