Business
2022 Full Year Results
2022 Full Year Results.
About this update from Serco Group Plc
[{"type":"text","content":"\n \n \n \n 2022 full year results\n \n \n \n \n 28 February 2023\n \n \n \n \n \n \n \n \n \n Resilient operational and financial performance against a backdrop of profound global challenges in 2022 with revenue ex-Covid and currency up 11%; Guidance for 2023 maintained, as are medium term growth targets.\n \n \n \n \n \n \n \n \n \n \n \n \n \n Year ended 31 December\n \n \n \n \n \n \n 2022\n \n \n \n \n \n \n 2021\n \n \n \n \n \n \n Change at reported currency\n \n \n \n \n \n \n Change at constant currency\n \n \n \n \n \n \n \n Revenue(1)\n \n \n \n \n £4,534.0m\n \n \n \n \n £4,424.6m\n \n \n \n \n 2%\n \n \n \n \n (1%)\n \n \n \n \n \n \n Underlying Trading Profit (UTP)(2)\n \n \n \n \n £237.0m\n \n \n \n \n £228.9m\n \n \n \n \n 4%\n \n \n \n \n (3%)\n \n \n \n \n \n \n Reported Operating Profit(2)\n \n \n \n \n £217.2m\n \n \n \n \n £216.2m\n \n \n \n \n 0%\n \n \n \n \n \n \n \n \n \n \n \n \n \n Underlying Earnings Per Share (EPS), diluted(3)\n \n \n \n \n 13.92p\n \n \n \n \n 12.56p\n \n \n \n \n 11%\n \n \n \n \n \n \n \n \n \n \n \n \n \n Reported EPS (i.e. after exceptional items), diluted\n \n \n \n \n 12.79p\n \n \n \n \n 24.43p\n \n \n \n \n (48%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Dividend Per Share (recommended)\n \n \n \n \n 2.86p\n \n \n \n \n 2.41p\n \n \n \n \n 19%\n \n \n \n \n \n \n \n \n \n \n \n \n \n Free Cash Flow(4)\n \n \n \n \n £159.1m\n \n \n \n \n £189.5m\n \n \n \n \n (16%)\n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted Net Debt(5)\n \n \n \n \n £203.9m\n \n \n \n \n £178.0m\n \n \n \n \n 15%\n \n \n \n \n \n \n \n \n \n \n \n \n \n Reported Net Debt(6)\n \n \n \n \n £649.9m\n \n \n \n \n £608.3m\n \n \n \n \n 7%\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Highlights\n \n \n \n \n \n \n \n ·\n \n \n \n \n \n Revenue:\n \n grew by 2% to £4.5bn, despite Covid-related revenues reducing by £480m. Revenue excluding Covid and currency grew by 11%.\n \n \n \n \n \n \n ·\n \n \n \n \n \n Underlying Trading Profit:\n \n increased by 4% to £237m, a margin of 5.2%. Performance of international portfolio strong; three-quarters of Group UTP derived from outside the UK\n \n \n (7)\n \n \n .\n \n \n \n \n \n \n ·\n \n \n \n \n \n Underlying Earnings Per Share\n \n : increased by 11%. \n \n \n \n \n \n \n ·\n \n \n \n \n \n Reported Earnings Per Sha...