Outsourcer Serco may need funds
In an announcement made after the market closed, the company said in preparation for Soames’ arrival and its AGM next week it had been reviewing performance so far this year which it said had been “more challenging than expected”.
“It has now become evident in the light of recent performance that we may need to reassess the level of risk implicit in the assumptions underlying our forecasts. This may in turn require a material downward revision to expectations, and for us to review the appropriateness of our financing position,” it said.
The firm said a further announcement will be made as soon as possible this week.