*NEW RESEARCH*: Serco FY15 much better than expected (update)

Serco was the other major UK BPS player to issue its full year results last week (see Capita predicting slower organic growth (update)). These turned out to be ‘much better than expected’ according to CEO Rupert Soames.

Even though the results were met with a significant boost to Serco’s share price – currently up 20% prior to the results - Serco is nonetheless, in the midst of a long and painful transformation, to become a more stable and focused Business to Government (B2G) services supplier (see Serco smaller but more focused post Private Sector BPO sale).

There is still work to do before Serco is restored to financial health, and further still before there is a return to top line growth.

Subscribers to TechMarketView’s subscription research can read our deep dive analysis of Serco’s FY15 performance and prospects in UKHotViewsExtra here.

Posted by John O'Brien at '08:53' - Tagged: publicsector   bpo   bps