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Top UK Stocks to Watch: Capita shares rise as it unveils restructuring plan

Top UK Stocks to Watch: Capita shares rise as it unveils restructuring plan Joshua Warner March 17, 2021 8:51 AM Capita hopes to return to growth by streamlining its business, Carnival prepares to restart UK cruises in June, SSP Group launches a rights issue, Serco wins a major new contract in Canada, and BT Group and Vodafone secure more 5G spectrum in Ofcom’s latest auction. Share: Top News: Capita eyes £700 million of disposals as part of restructuring plan Capita said it is restructuring its business and selling-off a number of non-core businesses to help get the company back on track after a tough 2020 plagued by the coronavirus pandemic, with hopes of returning to growth this year.

Serco Wins Rebid To Offer Support Services At Canadian Forces Base For Up To £870 Mln

(1) HOOK (dpa-AFX) - Outsourcing services company Serco Group Plc (SRP.L) said on Wednesday that it has secured a rebid to offer support services at the 5 Wing Canadian Forces Base in Goose Bay, Canada. The early 10-year period of the contract has an estimated ceiling value of C$694 million or approximately 400 million pounds. The contract, which can be extended twice for 5 years each, has a potential ceiling value, including indexation, of around C$1.5 billion or 870 million pounds over its complete term. The company expects annual revenues of 20 million pounds to 30 million pounds in the initial years of the contract, as seen in the existing agreement as well. Secured after an open tender process, the contract will start from September this year.

New deal in Canada could bring £870m to outsourcer Serco

New deal in Canada could bring £870m to outsourcer Serco Serco will provide air traffic control, among other services, to the military base (Ian Nicholson/PA) Serco has won a contract to run the civilian parts of a Canadian military base, in a deal which could be worth up to £870 million to the British outsourcing giant. The company said it had been selected after an open tender process to provide support services for the 5 Wing Canadian Forces Base in Goose Bay, Canada. The deal initially stretches for 10 years and has an estimated top value of 694 million Canadian dollars (£401 million). However, the contract’s terms also include the option to extend it twice for five years each time, bringing the total ceiling value to around 1.5 billion Canadian dollars (£866 million).

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