Serco Group plc

What does Serco Group own?
Serco Group operates government service brands across five sectors: Serco Defence (military training and recruitment), Serco Justice (prison and court services), Serco Immigration (border control and asylum support), Serco Citizen Services (contact centers and public service delivery), and Serco Health (hospital and clinical support). The company does not own consumer brands. It provides outsourced services to government departments and agencies under long-term contracts.

Is Serco Group publicly traded?
Yes, Serco Group plc is listed on the London Stock Exchange under ticker SRP. The company is a constituent of the FTSE 250 index. Serco has been publicly traded since its IPO in 1988, when it was floated following a management buyout from RCA.

Who founded Serco Group?
Serco was founded in 1929 as RCA Services, a division of the Radio Corporation of America. The original business provided technical services for radio and television equipment. The company was acquired by management in 1987 in a buyout, renamed Serco, and floated on the London Stock Exchange in 1988.

Where is Serco Group headquartered?
Serco Group is headquartered in Hook, Hampshire, United Kingdom. The company's registered office is at Serco House, 16 Bartley Wood Business Park, Hook, Hampshire RG27 9UY. Serco operates in over 25 countries with major regional operations in the UK, North America, and Asia Pacific.

What is Serco Group's revenue?
Serco reported revenue of 4.88 billion pounds for fiscal year 2025, up 2 percent from 4.79 billion pounds in 2024. Underlying operating profit was 272 million pounds, and reported operating profit was 246 million pounds. For 2026, the company guides to approximately 5 billion pounds in revenue and approximately 300 million pounds in underlying operating profit.

Who owns Serco Group?
Serco Group is a publicly traded company with no controlling shareholder. Major institutional shareholders include Standard Life Investments, Schroders, and Liontrust Asset Management. The company's free float is high, with ownership distributed across institutional investors, mutual funds, and individual shareholders.

Who is the CEO of Serco Group?
Anthony Kirby serves as Chief Executive Officer of Serco Group, having succeeded Rupert Soames in 2025. Mark Reid serves as Group Chief Financial Officer, succeeding Nigel Crossley who retired in March 2026. Kirby has emphasized defense growth and operational excellence as strategic priorities.

Serco traces its origins to 1929, when it was established as RCA Services, a division of the Radio Corporation of America. The original business provided technical services for radio and television equipment, maintaining broadcast infrastructure for the BBC and other organizations. The name Serco was derived from "Services RCA," reflecting the company's origins as a service arm of the American electronics corporation.

Throughout the mid-20th century, RCA Services expanded its technical services beyond broadcast equipment into broader government and defense support. The company provided maintenance and engineering services to the UK Ministry of Defence and other public sector clients, building expertise in managing complex technical operations for government customers.

In 1987, RCA Services was acquired by its management in a management buyout, marking the beginning of its modern era as an independent government services provider. The company was renamed Serco and was floated on the London Stock Exchange in 1988. The IPO provided capital for expansion into new service areas and geographic markets.

The 1990s and 2000s were a period of significant growth for Serco. The company expanded through both organic contract wins and strategic acquisitions, building operations in defense, transport, justice, healthcare, and immigration. Serco won major contracts including the operation of the Docklands Light Railway in London, management of Australian immigration detention centers, and provision of support services to the UK armed forces. The company expanded internationally, establishing operations in North America, the Middle East, and Asia Pacific.

Serco faced significant challenges in the 2010s. In 2013, the company was involved in a scandal over charging for electronic tagging of offenders, including billing for prisoners who were dead or in prison. The scandal led to a corporate manslaughter investigation, the resignation of senior executives, and a major restructuring of the company. Serco paid fines and compensation, and the UK government temporarily excluded the company from new central government contracts.

The company underwent a turnaround under CEO Rupert Soames, who joined in 2014. Soames refocused Serco on its core government services business, divesting non-core operations and rebuilding relationships with government clients. The turnaround restored the company's reputation and financial performance, though it took several years to fully recover from the damage caused by the tagging scandal.

In 2024, the company reported revenue of 4.79 billion pounds and underlying operating profit of 274 million pounds. Reported operating profit was 130 million pounds, depressed by a 115 million pound impairment charge in Asia Pacific. The company announced that Anthony Kirby would succeed Soames as CEO, with the transition completed in 2025.

In May 2025, Serco acquired the Mission Training and Satellite Ground Network Communications Software (MT&S) business from Northrop Grumman for 245 million pounds. The acquisition added approximately 900 employees and expanded Serco's defense mission readiness capabilities, particularly in virtual training and satellite ground network communications. MT&S contributed to 2025 revenue and won 180 million pounds in new contract awards following the acquisition, including retention of the significant DMON virtual training contract.

In February 2025, Serco was selected by the UK Ministry of Defence for a 1 billion pound recruitment services contract covering the Royal Navy, the British Army, the Royal Air Force, and Strategic Command. The initial term is seven years, with options to extend to up to 1.5 billion pounds. In March 2026, Serco secured a 73.9 million pound Home Office contact center contract for HM Passport Office and other services, running until February 2028.

In September 2025, Serco sold its Hong Kong operations as part of its disciplined portfolio management strategy. The divestiture allowed the company to focus resources on its core markets in the UK, North America, and Asia Pacific.

For 2026, Serco guides to approximately 5 billion pounds in revenue with approximately 3 percent organic growth, and underlying operating profit of approximately 300 million pounds, representing a 10 percent increase from 2025. The company's first half 2026 performance showed revenue of approximately 2.5 billion pounds and profit of approximately 155 million pounds, with margins improving above 6 percent.

Serco has faced significant controversies and regulatory scrutiny throughout its history, particularly in the UK.

The most damaging controversy was the electronic tagging scandal that emerged in 2013. Serco was found to have charged the UK government for electronic monitoring of offenders who were dead, in prison, or otherwise not subject to monitoring. The scandal led to a Serious Fraud Office investigation, the resignation of senior executives, and the UK government temporarily excluding Serco from new central government contract awards. The company paid fines and compensation, and the reputational damage took several years to overcome. The turnaround under CEO Rupert Soames, who joined in 2014, was largely focused on rebuilding trust with government clients.

Serco's immigration services have attracted political controversy. The company manages immigration detention centers and asylum accommodation under government contracts, making it a target for activists and politicians who oppose immigration detention policies. In 2026, Reform UK questioned whether Serco should continue to hold government contracts following reports about its immigration work. Serco responded by stating that it "does not take political positions" and delivers services "as specified by the contracting authority."

The UK government's 2026 announcement of new guidance requiring departments to consider in-house delivery before outsourcing contracts worth more than 1 million pounds represents a regulatory risk for Serco. While the policy does not ban outsourcing, it creates additional procedural hurdles that could slow contract awards and reduce the addressable market for outsourced services.

In Australia, Serco has faced scrutiny over its management of immigration detention centers, including reports of poor conditions and inadequate healthcare at facilities it operated. The company's immigration contract in Australia ended in 2025, which the company attributed to the conclusion of the contract term rather than performance issues.

The 2024 Asia Pacific impairment charge of 115 million pounds reflected challenges in the region, including contract performance issues and unfavorable market conditions. The impairment reduced reported operating profit to 130 million pounds in 2024, though underlying operating profit was unaffected.