Serco Group Plc Bags Contract Worth £450 Million

Serco Group Plc (SRP) has been selected as the preferred bidder to continue managing and operating the lifeline Northern Isles Ferry Services.

The new contract is anticipated to start in the fourth quarter and has a total estimated revenue value of £450 million over the initial six-year term.

As per the terms of the contract the Scottish Ministers will have an option to extend the contract for two more years, valued at an additional £160 million

On 20th September 2019, at the time of writing, GMT 13:06 PM, SRP shares were trading at GBX 151.50, up by 3.10 points or 2.09 per cent against the previous day closing price.