Serco wins 100 mln stg DLR contract extension

Serco wins 100 mln stg DLR contract extension : British outsourcing group Serco said on Monday it had won a 100 million pound ($160.36 million) contract extension to run London’s Docklands Light Railway.

The DLR, which carried 7.2 million passengers during the London Olympics last year, has been maintained, operated and marketed by Serco since 1997.

The group, which also runs prisons and air traffic control centres around the world, said the extension would run from April (Paris: FR0004037125 – news) 2013 to September 2014.

“It’s worth about 1.4 percent of total group revenue so its a small positive,” said Numis analyst Mike Murphy said.

Shares in Serco were up 0.54 percent by 0930 GMT, having risen 13 percent in 2012.

David Brockton, an analyst from Espirito Santo, noted last week that another material renewal for the group this year will be its electronic tagging contract with the British government.

Serco is also still in the running for two UK prison management contracts after several were pulled back by the government in November (Xetra: A0Z24E – news) , a move that prompted analyst uncertainty over Britain’s plans to outsource public services to private companies.

Serco DLR

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