Serco Group PLC AWE to transfer under direct management of MoD (8545D)
November 02 2020 - 2:00AM
UK Regulatory
TIDMSRP
RNS Number : 8545D
Serco Group PLC
02 November 2020
2 November 2020
Serco Group plc
LEI: 549300PT2CIHYN5GWJ21
Involvement of AWE Management Ltd in the Atomic Weapons
Establishment to end in June 2021
Serco announces that it was informed by the Ministry of Defence
on Friday night that AWE plc, the entity controlling the Atomic
Weapons Establishment, will transfer back under the direct control
and management of the Ministry of Defence as from 30th June 2021.
Since 2000, AWE has been managed by AWE Management Limited, in
which Serco holds a minority interest of 24.5%. The other
shareholders are Lockheed Martin (51%) and Jacobs (24.5%). Serco is
proud to have been involved with AWE for the last 20 years, and
will work with the other shareholders and the Ministry of Defence
to ensure a smooth transition to the new arrangements.
We expect that AWE will make a contribution to both Serco's
Group Underlying Trading Profit and Profit After Tax of around
GBP17m in 2020. Whilst our budgeting process is yet to be completed
and the pandemic makes forecasting extremely difficult, assuming a
smooth transition of AWE at the end of June 2021, we would expect
both Group Underlying Trading Profit and Profit after Tax in 2021
to remain broadly in line with current consensus and at similar
levels to our expectations for 2020, representing growth of around
35% over 2019.
This announcement contains inside information.
Ends
For further information please contact:
Paul Checketts, Head of Investor Relations, tel: +44 (0) 7718
195 074 or email: paul.checketts@serco.com
Marcus De Ville, Head of Media Relations, tel: +44 (0) 7738 898
550 or email: 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
Forward looking statements
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