Serco secures new contract win with US Army
By Iain Gilbert
Date: Wednesday 15 Jan 2025
(Sharecast News) - Government services provider Serco has secured a new contract win that will see it support soldier readiness and performance within the US Army's Holistic Health and Fitness System.
Serco said on Wednesday that the contract starts immediately and has an eight-month base period, plus four one-year option periods. The estimated total value of the contract was roughly $247.0m if all options were to be exercised.
The London-listed group and its contract partners will support the US Army's initiative to enhance soldier readiness, support optimal physical and non-physical performance, significantly reduce injury rates, and streamline rehabilitation post-injury. It will provide training support to 45 US Army brigades at 15 locations across the United States.
Chief executive Mark Irwin said: "Serco has a long, distinguished history of supporting the armed forces around the world and this win builds on our existing strength in the defence sector. We have a strong pipeline of further opportunities in the sector, which is now our largest sector globally. "
As of 1005 GMT, Serco shares were up 1.36 % at 149.0p.
Reporting by Iain Gilbert at Sharecast.com
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