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Serco Middle East's revenues spike in H1 2019

Global revenues jumped by 8% to reach $1.8bn in the first half of 2019, compared to $1.7bn in H1 2018

Serco was awarded the O&M extension contract for Dubai Metro's Route 2020.
© Dubai Media Office
Serco was awarded the O&M extension contract for Dubai Metro's Route 2020.

Serco Middle East, the regional arm of the UK-based facilities management and support services provider, has revealed that its revenues for the first half of 2019 hit $205m (AED753m).

Both the regional and global markets showed positive results. The company’s global revenues jumped by 8% to reach $1.8bn (AED6.7bn) in the first half of 2019, compared to $1.7bn (AED6.2bn) in the same period last year.

In a statement, the company revealed that global order intake for the first half of 2019 witnessed an upward trend to reach $4bn (AED15bn), which exceeded the company’s revenue for 2019.

Contract wins for fire and rescue services at King Fahd International Airport (KFIA) in Saudi Arabia, and a two-year operation and maintenance contract extension that included the Dubai Metro Red Line Extension Project, known as Route 2020 — for a contract value worth $185.1m (AED680m) — accounted for the growth in Middle Eastern revenues.

Chief executive officer of Serco Middle East, Phil Malem, said in a statement: “The Middle East remains a highly attractive market with opportunities that can bring in strategic expansion, which can be attributed to the size of the outsourced market, excellent reference sites and reputation."

He added: “We are confident that Middle East businesses can extend their impact across the region and achieve their growth ambitions with new business developments.”

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Construction Week - Issue 753
Nov 09, 2019