Serco warned they would have to write down the value of several lossmaking contracts which would hinder annual results. Share prices dropped one percent as a result of Serco’s warnings. The news comes after several high profile exits from its management team in recent months, Rupert Soames took over as Chief Executive officer in May. It’s been a hard year for Serco after it was temporarily banned form biding from all central government work.

It’s been a mixed month for Serco