EDINBURGH - British outsourcer Serco on Thursday said it would buy U.S. engineering firm Alion’s naval systems unit for $225 million to expand in the fast-growing segment of supplies to the U.S. Navy, sending its shares higher.
It said the acquisition of Alion’s Naval Systems Business Unit would boost earnings from 2020, prompting Serco’s shares to rise 9%. NSBU would boost U.S. revenue as a proportion of group revenue to 26% from 20%. The deal does not change the timing of when dividends will be reinstated but was “helpful”, Soames said. Dividends were suspended in 2014 as part of a restructuring.
From its first full year of ownership in 2020, NSBU is expected to contribute revenue of about $370 million, EBITDA of $28 million and underlying trading profit of $20 million.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Shares of Huawei's American suppliers slide, but the Chinese giant says it can survive US blacklistHuawei says that it has been preparing for the 'insane' move by the U.S. to put it on the so-called 'Entity List,' which means American firms need to obtain a license before selling to the Chinese technology giant. Trump toujours entrain de se ridiculiser avec des décisions irréfléchi Huawei has stolen every telecom IP from the world over 30 years. Only reason it exists. NBC should sue them for copyright infringement. Look at their logo & look at your logo.
Source: CNBC - 🏆 12. / 72 Read more »
T-Mobile-Sprint deal would boost prices, hurt poorest U.S. consumers, experts sayConcessions by T-Mobile US Inc to win U.S. government approval to buy Sprint Cor... But of course.
Source: Reuters - 🏆 2. / 97 Read more »
China's Huawei restricted from using U.S. suppliersThe Trump administration on Thursday officially added China's Huawei Techno... Fear of new technology ..? When the state prohibits the use of phones, the eavesdropping truth must be firmly established. Every transmitting phone has an electromagnetic wave that can be traceable, albeit in codes. If proven, all states should follow the U.S. action.
Source: Reuters - 🏆 2. / 97 Read more »
Huawei and suppliers make plans to face U.S. trade blacklist: NikkeiChina's Huawei Technologies Co Ltd is asking its top Asian chipmakers to ma... I'm making something wonderful! At Home! Huawei = If the NSA/CIA Controlled Apple/Microsoft... Me Chinese, me play joke, me put spyware in your phone
Source: Reuters - 🏆 2. / 97 Read more »
Shares of Huawei suppliers tumble amid ongoing turmoilShares of Chinese telecommunications heavyweight Huawei's suppliers took a hit on Thursday afternoon amid the ongoing fallout surrounding the Chinese telecommunications giant.
Source: CNBC - 🏆 12. / 72 Read more »
Asian shares steady after slump, oil jumps on Saudi commentsAsian shares steadied on Monday as investors caught their breath following anoth...
Source: Reuters - 🏆 2. / 97 Read more »
US Naval Academy 'plebes' climb greased monument to end freshmen yearTEAMWORK: The first-year class at the U.S. Naval Academy are no longer “plebes” after successfully scaling the Herndon Monument on Monday. Wonder what they did with all the left over Crisco teamwork: They needed a monument?
Source: ABC - 🏆 471. / 51 Read more »
Australian, Indian elections boost Asian shares, trade fears easeAsian shares clawed back some of last week's losses as investors cheered ap... Compromises are necessary among countries as Australia and China. The🌎economy is fragile. The US trade war, with China, if continue will be responsible for the🌎economic recession.
Source: Reuters - 🏆 2. / 97 Read more »
Walmart shares up 2% premarket as profit beat weighs against sales missWalmart Inc. shares rose 2% in premarket trade Thursday after the retail giant topped profit estimates for the first quarter, while sales fell short....
Source: MarketWatch - 🏆 3. / 97 Read more »
Stung by U.S. sanction threats, EU seeks ways to boost the euroThe European Union is seeking new ways to widen use of the euro and counter the ... Is the Euro screwed? Automated Aqua/Agri-cultural futures. Nothing like some good ole fashioned currency manipulation.
Source: Reuters - 🏆 2. / 97 Read more »
Stung by U.S. sanction threats, EU seeks ways to boost the euroThe European Union is seeking new ways to widen use of the euro and counter the ... En Mexico, nada cambia. Will you help boost the Euro? $ must be put to death
Source: Reuters - 🏆 2. / 97 Read more »