back to article Serco stems its gigantic losses, shrinks 2015's to a mere £70m

Outsourcer Serco has stemmed the flow of its haemorrhaging profits, posting a loss of £69.4m in 2015, down from £991m last year. The outsourcer is currently in the middle of a major strategic turnaround. In a statement clearly channelling the spirit of his grandad, Winston Churchill, Serco chief exec Rupert Soames said: "Our …

  1. Keith Glass

    Well, now I'm glad. . .

    . . . I got laid off from their US Subsidiary, two years ago. . . .

    1. Anonymous Coward
      Anonymous Coward

      Re: Well, now I'm glad. . .

      You mean you were paid 921.6M.. Wow, I expect they are glad they let you go too.

  2. Anonymous Coward
    Anonymous Coward

    Wasn't 2014 two years ago?

    Or are they just slow at arithmetic?

  3. Walter Bishop Silver badge

    Serco stems its gigantic losses?

    Since Feb 2014, when Soames was appointed chief executive, the share price has been on a long slide from 372.92 to the current price of 94.35. The downturn in reported negative profits could be accounted for by Serco recently selling its BPO unit. This is expected to actually lead to a decline in revenue in late 2016.

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