The Serco Board has declared an interim dividend of 1.34p per share. The interim dividend will be paid on 4 October 2024, with an ex-dividend date of 29 August 2024 and a record date of 30 August 2024.
Other financial highlights include:
-Revenue: £2.4bn, in line with expectations.
-Margin: Focus on enhancing performance across our portfolio delivered margin of 6.0%.
-Underlying operating profit: Ahead of plan at £142m. Approximately 60% of Group underlying operating profit derived from outside the UK1.
-Cash flow: Free cash flow £75m, on track for full year trading cash conversion of at least 80%.
-Strong financial position: Adjusted net debt of £131m, Leverage 0.6x net debt to EBITDA.
-Order intake: £1.9bn of wins, order book remains strong at £13.5bn.
-Pipeline: Pipeline of potential new work remains high at £10.2bn.
-Dividend per share: , +18% year on year.
-Share buyback: £57m of £140m share buyback completed, remainder in second half.
-Guidance for 2024: Unchanged following upgrade to profit and cash in trading statement on 27 June.
