Jim Armitage: Scandals notwithstanding, something tells me Serco's down but not out
Outlook Serco's shares might finally have fallen too far. Yesterday's 17 per cent slide in the stock of arguably Britain's least favourite company takes its plunge since the summer to nearly 40 per cent.
I know this is a business under no fewer than seven investigations into its operation of Government contracts. And, as I've written many times here before, the way it has thrived through the devotion of the current (and previous) administration to privatisations of everything that moves is unpalatable.
But this kind of a share price wipeout is the sort of thing you see when companies are heading to the wall. Despite yesterday's statement, Serco doesn't seem to me to be going that way. There is little sign that the fanatical obsession this country has with outsourcing will be ditched, whatever government gets into power at the next election. Serco remains one of the biggest companies in that business in the world.
You may feel as much antipathy towards Serco as I do, but if you don't mind holding your nose and taking a bit of a risky punt, this one looks like a buying opportunity. If you can't beat 'em, join 'em.
- 1 Howard Jacobson: Let’s see the 'criticism' of Israel for what it really is
- 2 Gingers face extinction due to climate change, scientists warn
- 4 Pornhub pleads with users to stop uploading videos of Brazil 'getting f**ked by Germany' in the World Cup
Jennifer Lawrence face palms Emma Watson at Christian Dior show in Paris
Gingers face extinction due to climate change, scientists warn
Pamplona Running of the Bulls 2014: Briton critically injured in San Fermin festival
Elephant 'cries' while being rescued after 50 years of abuse in India
Google executive died on yacht after prostitute gave him fatal dose of heroin, say police
Sustained immigration has not harmed Britons' employment, say government advisers
British jihadist calls for 'flag of Islam' over Downing Street and Buckingham Palace
Australia facing international condemnation after turning around Sri Lankans at sea
7/7 memorial defaced on anniversary of 2005 attacks with ‘Blair lied thousands died’ graffiti
Even when it brutalises one of its own teenage citizens, America is helpless against Israel
There’s a nasty smell in the political air – and it’s coming from the Tories
iJobs Money & Business
£35000 - £40000 per annum + Benefits: Ashdown Group: HR Advisor - 6 Months Fix...
£37000 - £40000 per annum: Ashdown Group: IT Manager - Tolworth, Surrey - £40,...
£55000 - £65000 per annum + excellent package & bonus expectations: Real Staff...
£80000 - £90000 per annum + competitive: Real Staffing: A highly successful Co...