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Serco Awarded 22-Month U.K. Northern Rail Contract Worth GBP520m 2014-03-27 07:24:05.144 GMT
By Brian Lysaght March 27 (Bloomberg) -- Serco JV with Abellio Group to continue operating Northern Rail franchise for U.K. Dept. Transport. * Serco’s share of rev. ~GBP520m * Interim franchise agreement anticipated to be run at a lower profit margin than the existing franchise; includes a gain share agreement to incentivize performance improvements * New agreement will run until February 2016 when a new long- term franchise will be let * Serco statement:{NSN N332BR3HBS3K <GO>} * DFT statement: {NSN N3326D3HBS3N <go>} Link to Company News:{0165102D NA <Equity> CN <GO>} Link to Company News:{SRP LN <Equity> CN <GO>}
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To contact the editor responsible for this story: Brian Lysaght at +44-20-7330-7908 or blysaght@bloomberg.net