Brighter Serco prospects boost shares as plans bear fruit
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EDINBURGH (Reuters) - Serco expects revenue to start to grow for the first time in six years in 2019 as it finally starts to reap the rewards of an overhaul but the British outsourcer asked investors to be patient on the restoration of dividend payments. The services provider predicted positive free cash flow in 2018 after three years of outflows, sending its shares up as much as 10 percent. Earnings per share forecasts were raised thanks to a lower effective tax rate, it said.Some analysts..