REG - Serco Group PLC - Serco wins £200m marine services contract

SercoAnnouncement

16/11/2022 07:00

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RNS Number : 5266G  Serco Group PLC  16 November 2022

Serco wins £200m follow-on contract to provide marine services for the Royal
Navy

 

16 November 2022

 

Serco has been awarded a contract by the UK Ministry of Defence (MOD) to
continue to provide marine services for the Royal Navy.  Following the end of
the 15-year private finance initiative (PFI) arrangements for the provision of
marine services, the new agreement is with the Royal Navy directly.  The
contract, which is valued at around £200m, will last for 27 months commencing
in December 2022 and follows on directly from the current PFI, ensuring
continuity of support.  The MOD has an option to extend the contract for up
to six months.

 

Serco has been supporting the Royal Navy for over 25 years, assisting the
movements of Royal Navy ships in and out of harbour and providing a range of
further support services, including trialling new maritime technology,
ferrying passengers, supporting military training exercises, and the provision
and maintenance of buoys and moorings.  The team of 650 skilled mariners and
engineers provides these services at six sites across the UK, including at His
Majesty's Naval Bases (HMNB) at Devonport, Portsmouth, Clyde and the BUTEC
Ranges in the Kyle of Lochalsh, as well as overseas.  Serco operates and
maintains just under 100 tugs and other vessels, ranging in length from 11m to
93m and from 12 to 3,600 gross tonnes.

 

Commenting on the award, Rupert Soames, Serco Group Chief Executive, said:
"Serco is delighted to be continuing to provide these vital services to
support the Royal Navy.  We are proud of our service over the last 25 years
and especially of our team, which combines decades of experience with highly
specialised skills.  Many of the team are Navy veterans and have longstanding
connections to the national maritime community.  We look forward to
continuing this support for many years to come, drawing on Serco's increasing
global maritime presence to innovate for our customers in the UK".

 

Ends

 

For further information please contact:

Paul Checketts, Head of Investor Relations, tel: +44 (0) 7718 195 074 or
email: paul.checketts@serco.com (mailto:paul.checketts@serco.com)

Marcus De Ville, Head of Media Relations, tel: +44 (0) 7738 898 550 or email:
marcus.deville@serco.com (mailto:marcus.deville@serco.com)

 

 

About Serco

Serco is a leading provider of public services. Our customers are governments
or others operating in the public sector.  We gain scale, expertise and
diversification by operating internationally across five sectors and four
geographies: Defence, Justice & Immigration, Transport, Health and Citizen
Services, delivered in UK & Europe, North America, Asia Pacific and the
Middle East. More information can be found at www.serco.com
(http://www.serco.com)

 

 

Forward looking statements

This announcement contains statements which are, or may be deemed to be,
"forward-looking statements" which are prospective in nature.  All statements
other than statements of historical fact are forward-looking statements.
Generally, words such as "expect", "anticipate", "may", "could", "should",
"will", "aspire", "aim", "plan", "target", "goal", "ambition", "intend" and
similar expressions identify forward looking-statements.  By their nature,
these forward-looking statements are subject to a number of known and unknown
risks, uncertainties and contingencies, and actual results and events could
differ materially from those currently being anticipated as reflected in such
statements.  Factors which may cause future outcomes to differ from those
foreseen or implied in forward-looking statements include, but are not limited
to: general economic conditions and business conditions in Serco's markets;
contracts awarded to Serco; customers' acceptance of Serco's products and
services; operational problems; the actions of competitors, trading partners,
creditors, rating agencies and others; the success or otherwise of partnering;
changes in laws and governmental regulations; regulatory or legal actions,
including the types of enforcement action pursued and the nature of remedies
sought or imposed; the receipt of relevant third party and/or regulatory
approvals; exchange rate fluctuations; the development and use of new
technology; changes in public expectations and other changes to business
conditions; wars and acts of terrorism; cyber-attacks; and pandemics,
epidemics or natural disasters.  Many of these factors are beyond Serco's
control or influence.  These forward-looking statements speak only as of the
date of this announcement and have not been audited or otherwise independently
verified.  Past performance should not be taken as an indication or guarantee
of future results and no representation or warranty, express or implied, is
made regarding future performance.  Except as required by any applicable law
or regulation, Serco expressly disclaims any obligation or undertaking to
release publicly any updates or revisions to any forward looking statements
contained in this announcement to reflect any change in Serco's expectations
or any change in events, conditions or circumstances on which any such
statement is based after the date of this announcement, or to keep current any
other information contained in this announcement.  Accordingly, undue
reliance should not be placed on the forward-looking statements.

 

LEI: 549300PT2CIHYN5GWJ21

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