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IN BRIEF: Serco starts £50 million share buyback over 5 months

ALN

Serco Group PLC - Hampshire, England-based government services outsourcing provider - Starts on Monday the £50 million share buyback announced with interim results on Thursday last week. The buyback will be run by JP Morgan Securities PLC and be completed by December 31. The repurchased shares will be cancelled. Serco had reported a slight decline in pretax profit for the six months that ended June 30, but said revenue increased by 2.5% and free cash flow by 21%.

Current stock price: 220.40 pence

12-month change: up 32%

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