Services giant Serco has posted further profit growth after securing a record £5.6 billion worth of new contracts in 2012.

The company which will celebrate its 25th anniversary in 2013, secured multi-million pound contracts including the deconstruction of a US Army base situated in Afghanistan and major transport contracts in India and Scotland.

Serco has also seen profit from the UK, where government spending cuts and a shift to outsource services to reduce cost have increased business for the company, operating services ranging from prisons to nuclear weapon maintenance.

Serco has also acted to increase the size of shareholder dividends in response to increased profits with further increases over the coming next three years, a shift away from the traditional model that the company had operated in the past.

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