Serco reaps modest profit from first full-year running Mt Eden jail

Mon, 10 Jun 2013

By Jonathan Underhill June 10 (BusinessDesk) – Serco New Zealand, the local unit of the UK’s Serco Group, reaped a modest profit in the first full year of its $300 million, 10-year contract to run Mt Eden/Auckland Central Remand Prison for the Department of Corrections. Profit was $368,623 in calendar 2012, from about $1 million in 2011, when it took over full management of the facility mid-way through the year. Sales climbed to $32.5 million from $22.5 million. The biggest expense was its wages bill, which climbed to $21.8 million last year...

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