Serco’s reported revenues for the first half of 2015 show signs that the outsourcing services group is stabilising, despite a post-tax loss of £92 million and a 28 per cent decline in revenues from UK central government.

The group lost its contract to run the Docklands Light Railway line in London, with deals involving the National Physical Laboratory and Colnbrook immigration removal centre also coming to an end.

Serco said in an official statement: “Following the significant disruption to our customer relationships with UK central government in 2013 and the subsequent corporate renewal process that was put in place over the course of 2014, rebuilding the pipeline is now a major focus, and we will look to identify new opportunities in our core markets of justice & immigration, defence and transport in the UK as they emerge from policy decisions taken by the new government.”

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