Serco soars as profit from running NHS Test and Trace hits £200m


Serco’s shares soar as the outsourcing giant’s profit from running NHS Test and Trace hits £200m

Shares in Serco surged after the outsourcing giant predicted bigger profits from its work on Test and Trace.

The FTSE 250 firm said it now expects to make profits of £200million this year – £15million more than previously thought. 

It said this was because demand for Test and Trace is set to continue ‘for longer in the second half than we previously anticipated’.

Covid boost: Outsourcing giant Serco said it expects to make profits of £200m this year – £15m more than previously thought – on the back of its work on the NHS test and trace scheme

Serco made £163million profit last year when business was boosted by nearly £350million from Test and Trace. 

It runs about a quarter of the centres where people go to get tested for Covid-19.

It is also one of two companies responsible for phoning people who have been in contact with others who test positive for the virus.

The full Test and Trace system is budgeted to cost £37billion over two years. 

Serco has also won a contract from the Ministry of Defence to maintain military facilities, worth up to £3.4billion. 

Its shares rose 4.6 per cent, or 6.3p, to 142p.



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