Serco Share Discussion Threads

[davethehorse] 14/11/2013 15:49

Short sellers in charge now...

[mj19] 14/11/2013 15:33

cant go any lower today

[theprovosts] 14/11/2013 15:13

Super efficient way to sell shares.

Nuke the bid, continued by more nuking the bid. Lol at the pro sellers

[palwing13] 14/11/2013 13:44

Serco always prided themselves on diversity. However, all their diverse eggs are in one Government basket. Not for much longer.........

[stever4545] 14/11/2013 13:11

For God's sake sell!
Its got sell all over it

[stever4545] 14/11/2013 13:09

I said it was time to sell hours ago
Now look at it
down another 5%
sell it now as Meryll are about to downgrade it with target 320p

[palwing13] 14/11/2013 12:09

If the Government reviews & audits manage to track down and talk to the "silenced few", I think the past confidence of contract certainties will evaporate. This could implode like a house of cards hit by a gust of wind.

[essentialinvestor] 14/11/2013 11:54

Well Dave what surprised me is that even with the CEO's departure very few
appeared to question if more bad news could be on the way.

From the moment the story first broke the market and investors appeared stunned
in to inaction - very unusual for that to happen.

[davethehorse] 14/11/2013 11:45

The short sellers will probably be out in force after that statement...

[lukeisbackontrack] 14/11/2013 11:24

This may stop at 250p. Sorry lads. I would sell now to get in cheaper

[davethehorse] 14/11/2013 09:21

Agreed, not a good outlook, nothing in that statement to reassure investors, difficult to see the price going anywhere but lower IMO

[essentialinvestor] 14/11/2013 08:34

So very belatedly the market has woken up to the risks here, plenty of opportunity
to have sold at considerably higher levels.

[stever4545] 14/11/2013 08:27

Unfortunately its time to sell this: this news and outlook is not good and the shares are over valued at anything more than £3.20 at this time.
Especially of concern is the 2014 outlook in the statement.

[palwing13] 14/11/2013 08:06

"The UK Government audits and reviews are ongoing and we remain firmly committed to rebuilding the confidence of our UK Government customer."Says all you need to know......

[osirisra] 13/11/2013 08:48

Looking at the graph from July reminds me of the cliff I did a base jump off of in France once!
Extreme sports and the markets shouldn't mix,,,, somebody tell the bods at SRP HQ.

[palwing13] 12/11/2013 02:53

Just needs one of the "skeletons" to break their silence and it will open the flood gates. Resulting non renewal of contracts will have a catastrophic knock on effect as confidence in Serco disappears. A £10m profit warning will look like luxury one day. All IMHO of course.

[rimmy2000] 11/11/2013 12:30

looking very ill here.

[davethehorse] 11/11/2013 12:09

They are having to pay back alot of money on the mis-reporting scandal which is going to hit this years and next years figures I assume, hence a PW

[essentialinvestor] 11/11/2013 10:19

The market has IMV been complacent in it's assessment of the potential longer term
impact on Serco since the story broke a couple of months ago.

I got my Dad out of this within 30 minutes of the original announcement,
very surprised that 20% did not come off the share price immediately, thankfully.

[bigbigdave] 10/11/2013 07:30

Serco in shock profit warning

SERCO is set this week to cap a turbulent six months with a profit warning that will dismay the City.

The outsourcing company, which runs public services across Britain, including prisons, trains and even the maintenance of atomic weapons, is expected to say on Thursday that it will not meet forecasts for full-year profits.

Serco and its rival, G4S, have been battered by government investigations of alleged fraud in contracts to electronically tag prisoners.

The Cabinet Office is now examining all big Serco contracts and - as The Sunday Times revealed five weeks ago - has called for "corporate renewal" by the end of this month. The chief executive Chris Hyman stepped down on October 25. The Serious Fraud Office confirmed last week it had begun a criminal investigation into Serco and G4S over tagging contracts.

Investors had expected Serco to report full-year profits of about £326m this year. Analysts now think it will be about £10m less, with a possible greater impact - up to £40m - next year.

Contract awards to Serco have been put on hold in Britain while the Cabinet Office conducts its inquiry. It is also understood the change of government in Australia could lead to a scaling down of one of the company's largest deals, to run immigration centres there.

Serco employs more than 100,000 people around the world and reported profits of £302m last year. About a quarter of its £4.9bn annual sales come from work for Whitehall, and it relies on the wider public sector for about 45% of its revenues.

The shares closed last week at 538p and are down 3% over the past year.

www.thesundaytimes.co.uk/sto/business/Companies/article1338399.ece

[megabear] 31/10/2013 09:31

Looks like the US getting a bit sniffy on Serco:

hxxp://video.foxnews.com/v/2785827442001/greta-the-obamacare-serco-deal-smells-rotten/?playlist_id=940325740001

[palwing13] 25/10/2013 14:58

I refer you to my earlier post:palwing32 - 03 Oct 2013 - 08:06 - 1102 of 1111Too many "skeletons in the cupboard" IMHO.Chris Hyman gone... but that's unlikely to be the end of SERCOs problems. Too many disgruntled "skeletons" out there IMO.

[rimmy2000] 25/10/2013 13:28

Yes, great news, but harsh. Shows transparency and excellent governance/accountability, such being a crucial criteria to uphold government contracts

"
Serco Group rises 2.8% as its chief executive fell on his sword, resigning due to the company's botched deal to run a prisoner transfer contract and as the company also moved to strengthen its government contract operations. The company is undertaking what it describes as a "renewal programme" after the UK government and Serco in August called in police to examine claims of fraudulent misreporting of data on the company's contract to transport prisoners to court in London and East Anglia. The government has threatened to block the company from winning any more government contracts unless it quickly changes and is more open to government scrutiny on any public contract. "Given the overriding objective of the renewal programme, Christopher Hyman believes that the company will have the greatest chance of success with new leadership at the helm and he has, therefore, decided to step down with immediate effect," the company said in a statement. Ed Casey, the head of the company's Americas unit, has been appointed acting CEO, but Serco said it will look outside the company for a permanent replacement and has already begun a search.
"

[essentialinvestor] 25/10/2013 12:19

CEO going, is that great news?, not sure on that one.