Latest editorial
Serco paying out dividends branded an ‘outrage’ after test and trace failure
A campaigner outside the Department of Health and Social Care office in London protesting over Serco's handling of the test, track and trace system
SERCO’S payment of dividends to shareholders was branded an “outrage” today after the firm reported bumper profits partly derived from its taxpayer-funded Covid test-and-trace scheme.
Dividends totalling £17 million will go to shareholders in the private outsourcing giant in its first such payouts for seven years.
Serco chief executive Rupert Soames said that gains from coronavirus-related contracts amounted to just 1 per cent of the company’s profits, but he admitted that they added £350m in revenue.
Similar stories
Burnham urged to raise taxes on banks after Barclays reveals 30% rise in pre-tax profits
The election offers a critical chance to shape the future of pay, care and community provision in Wales, says Unison’s JESS TURNER