International outsourcing firm Serco said it was on track for 2012 but expects revenues in the first half to take a hit from tough conditions in America.
In a statement ahead of the firm's half year end, Serco said it expected strong total revenue growth in 2012, including good organic growth.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Serco noted further strong growth in AMEAA, an improving outlook in the UK, but said conditions in the US federal market remained very tough for its Americas division.
"Accordingly, for the first half of the year, we expect a small reduction in the group's organic revenue," it said.
"Acquisitions will contribute growth of approximately 6% to the group's total revenue," it added.
The firm said its financial performance would be weighted to the second half of the year when it expected a strong result.
This would come through new contract awards recently secured, the successful conclusion of a change programme, and the benefit of recent acquisitions, it said.
-
Family face £100k stamp duty bill after avoidance scheme crashes in court – the mistakes to avoidA couple faces a substantial stamp duty bill after trying to reduce the amount they owed
-
How to get a guaranteed income in retirementSavers want certainty in retirement, with almost two-fifths naming guaranteed income as their main priority. An annuity can achieve this – but what other income options are available to supplement it?
