Mar 04, 2014, by NelsonHall Analyst
Serco announced its 2013 results this week including:
Revenue £4,288.1m up +5.6%, up +6.7% at constant currency (CC)
Operating profit was £143.8m, a margin of 3.4%, down 330 bps
The decline in profits was anticipated with a warning given by the company to this effect only a few weeks ago. In this period, Serco reported a net exceptional charge of £90.5m, reflecting p[...]
Feb 10, 2014, by NelsonHall Analyst
The new deal between Hartlepool Council and Northgate Public Services (PS) shows how old-style local authority partnership contracts can evolve. This, is a low risk deal for Hartlepool Council, unlike other local authority partnerships of yester-year that failed to deliver. For a start, Northgate has provided the Council’s IT services since 2001 and it has already established a presenc[...]
Oct 28, 2013, by NelsonHall Analyst
NelsonHall recently had a briefing with Axelos, the Capita and Cabinet Office JV that has been set up to commercialize the Government’s Best Practice Methodologies portfolio.
Axelos was incorporated in July 2013, 51% owned by Capita, 49% by the Cabinet Office but governed by a separate board from the parent organizations. The company will be fully operational from January 1, 2014. Axelos [...]