(Reuters) -British outsourcing company Serco Group (LON:SRP) on Thursday forecast 2024 profit to increase to around 260 million pounds ($328.5 million), partly helped by contributions from its acquisitions.
The company, which provides defence, security, immigration, health and transport services for governments, said it expected to enter 2024 with a strong pipeline of new business opportunities and a robust balance sheet.
Serco, one of the suppliers which had supported the UK government's test-and-trace programme during the pandemic, said it expected underlying trading profit of 245 million pounds for the year ending Dec. 31, 2023, in line with its forecast, along with a 4% organic revenue growth.
The London-listed firm also said it had agreed to buy European Homecare, a specialist provider of immigration services to public sector customers in Germany, from Korte-Stiftung for 40 million euros ($43.6 million).
The acquisition will increase the reach and capability of the group's international immigration services platform which has substantial operations in the UK, Australia and Europe, Serco said in a statement.
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