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"We are thrilled to see Serco achieve such strong results," said John Ashcroft, Serco's Managing Director in the Middle East.
"Furthermore, we are confident of retaining these levels as the need for quality-driven international expertise in services from the public and private sector becomes more prevalent."
Serco attributes the strong figures to a number of recent contract wins worth £2.6billion (AED16.8billion) including London's Docklands Light Railway and UK Defence Academy integration contract.
The Middle East, in which Serco operates five different business streams in the specialised sectors of aeronautical services, technology solutions, facilities management consultancy and maintenance and public/private partnerships, also achieved excellent re-bid results in addition to several prominent new wins.
In the aeronautical business stream in the region, Serco successfully retained its long term air traffic control, engineering and meteorological services contracts in Dubai, Abu Dhabi and Al Ain. It also won consultancy contracts to develop aviation safety management systems for air traffic services in Qatar, Kuwait and Egypt.
"Governments worldwide now recognise that outsourcing is playing an increasingly key role in improving the quality of public services. Service companies, such as Serco, with a track record of partnering with the public sector and having gained vital experience of UAE culture and governance over many years, is fully committed to playing its part in the region's future development," explained Ashcroft.
Serco, a FTSE 250 company, derives much of its success from its 90% win rate on re-bids, demonstrating a sustained quality of service delivery. With contracts in 32 countries, its market sectors include home affairs, health, education, defence, science and increasingly transport; the latter accounting for nearly 25% of Serco's 2005 revenue.
Serco's diverse range of services include running railways in Australia, UK and Europe, managing England's motorway network and 85% of speed cameras in the UK, controlling toll tunnels in Hong Kong and providing air traffic control services in North America and in the Middle East.
Analysts have forecast full-year pre-tax profits of £110m (AED 710m) for the Serco group in 2006.
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Posted by Anne-Birte Stensgaard, Senior News Editor
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