StockMarketWire.com - Serco Group's revenues grew by 19% to £2.2bn during the first half of the year, driven by organic growth and a 5% uplift from acquisitions.

The company's underlying trading profit increased by 58% to £123m, contributed by acquisitions of Facilities First in Australia and WBB in North America, while reported operating profit increased by 31%.

Free Cash Flow was up 61% to £130m, supported by strong cash collections and some favourable timing effects, the company said.

Adjusted Net Debt(5) increased by £82m to £225m in the past 12 months, despite spend of £249m on acquisitions and £40m on share buy-backs.

The company declared an interim dividend of 0.8p per share, the first interim dividend since 2014.


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