It's that time of the year when all of the big outsourcers announce their 1/2 year financial returns so lets see how they're doing....
(Also if this is of any use to people, I might make it a regular thing because I'm not enough of a procurement nerd already 🤓)
#outsourcing
First up is @Ameyplc who announced yesterday record losses, not least due to their contracting kerfuffle with Birmingham council. However, revenue is actually up and with a new purchaser on the horizon, things aren't looking too bad.
themj.co.uk/Amey-records-4…
Next up is @SercoGroup who have had an incredible 6 months - 29% profit increase, 6% revenue increase, debt reduction, and global expansion.
Look no further than @rsoames for an example of how to run an outsourcing company 👍
cityam.com/serco-continue…
@mitie also reported a 14% revenue increase after a widespread cost-saving drive, designation as an approved govt supplier, and an expansion onto the prison operator services framework.
uk.finance.yahoo.com/news/mitie-pos…
Also in reassuring news is that @CapitaPlc seems to have "steadied the ship" despite reporting a 26% decrease in pre-tax profits for 1st half. Winning new contracts (e.g. military fire & rescue) and new management under John Lewis seems to have helped
thetimes.co.uk/article/capita…
Finally, after a year of speculation @kiergroup has put into place new cost cutting and consolidation plans, including selling housebuilding division, in an effort to curb debt rises. Debt dropped to £167m from £180m 6 months ago.
standard.co.uk/business/marke…
@kiergroup (Also no news from @interserve but they have just appointed a new CFO so will see whether that helps with previous instabilities)
fmj.co.uk/cfo-appointmen…
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