By Andy Sambidge www.arabianbusiness.com
Serco Group, the operator of the soon-to-launch Dubai Metro, said on Tuesday first-half profit rose 34 percent on a record inflow of new work.
Net income rose to $100 million, England-based company said in a statement. Sales increased 31 percent, beating estimates, Bloomberg reported.
“Our strong performance in the first half of this year and the good start we have made in the second half supports our expectation in achieving our financial guidance for 2009 and beyond,” the company said.
In 2007, Dubai Roads and Transport Authority (RTA) awarded Serco the operation and maintenance contract for the first two lines of the Dubai Metro.
The operations and maintenance contract will run for five years with an opportunity for a further five-year expansion. If expanded, Serco confirmed the contract would be worth around $825m.
Serco will run the operations control centre, provide train attendants and all staff at the stations and maintain rolling stock, track and station facilities.
Last year, Serco won a $400m air traffic control contract in Dubai.
