New contracts awarded to Serco include a Saudi Railway Company, further air traffic control in the US and also IT support services for various European agencies. You can read more on their future projects here.

A Very Brief History

Serco’s history began in 1929 as a UK subsidiary, RCA Services Limited to support the cinema industry. In the 1960s the company made a leap into military contracts to maintain the UK Air Force base Ballistic Missile Early Warning System. From there, the company continues to grow. Now trading as Serco Group, 2015 trading as of August 11 2015, maintained a revenueof £3.5 billion, and an underlying trading profit of £90 million. The data was presented at JPMorgan in London.

In 2013 Serco was considered a potential risk, and became a representation of the dangers of outsourcing. The U.K. government developed contingency plans in case Serco went bankrupt. When the concerns came to light, Serco faced bans (along with G4S, another outsourcing contractor) from further bidding on new U.K. government work for six months. It wasn’t until Rupert Soames OBE – Sir Winston Churchill’s grandson – took on the job as Serco’s Chief Executive in 2014, that Serco turned a new corner of profit growth.

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