Serco has announced the appointment of Keith Williams as chair during a period of robust growth, bolstered by increased government expenditure on defence and immigration.
Williams, who currently chairs Halfords, will succeed John Rishton, who will have completed a nine-year tenure when he steps down in December, as reported by City AM.
On his appointment, Williams expressed it was an “honour” to be chosen for the role, adding that he “looked forward… to supporting [Serco’s] important work in the delivery of critical public services, continued growth, and the creation of value for all stakeholders.”
His appointment coincides with a prosperous period for the company, which has seen a surge due to increased spending in defence and immigration.
Serco reports revenue jump
Serco, a global provider of public services, reported revenue of £2.4bn in the first half of 2025, with an underlying operating profit of £140m.
The FTSE 250 firm anticipates full-year revenue growth to improve to one per cent due to “higher than anticipated” levels in the immigration sector.
As a result, its revenue guidance has been revised upwards from £4.8bn to £4.9bn.
Chief executive Anthony Kirby, who took up his role in March this year, described Serco’s first-half performance as “strong.”
He said: “I have seen at first-hand the structural drivers of long-term demand in our markets, most notably in defence, justice, migration and citizen services. “
“With our strong financial position, I believe we are well positioned to pursue opportunities to enhance future growth and deliver continued value to our shareholders.”
In January, Serco expanded its portfolio, successfully acquiring the US satellite communications enterprise, MT&S, which has cemented their standing and capabilities within the US and international defence markets “at a time of increasing defence budgets around the world.”
The acquisition is anticipated to contribute approximately £130m in revenue for the current year.
Serco also forecasts a reduction in net debt from £325m at mid-year to £245m by year-end, while maintaining its free cash flow guidance steady at £130m.
