Arabian Business reported that Serco, the UK based operator of the Dubai Metro expected revenues to increase to about USD 8 billion by the end of 2012 on the back of strong global demand for its services.
Serco said that operating profit margins are forecast to rise to 6.3% by the end of 2012. The strong performance has been driven by high levels of operational delivery, continued organic growth and good free cash flow. Our financial position remains strong.
The company, which signed 5 year, USD 23 million deals in August with Nakheel to operate the Palm Jumeirah monorail reported 9.8% rise in global revenue to EUR 2.14 billion in the H1 of the year. Operating profit rose 13% to EUR 124.4 million in the first 6 months of the year.
The AMEAA region represented 10% of revenue and surged 37.4% to EUR 218 million helped by significant contributions from Serco’s Middle East operations.
Serco has USD 5.4 million annual contracts to provide air traffic control and airside engineering services at Dubai World Central Al Maktoum International which opened in June.
The British firm also won USD 16.2 million maintenance and consultancy contract for the Al Mashaaer Al Mugaddassah Metro Southern Line in Makkah and USD 2.7 million contracts to manage bus operations in Abu Dhabi.