LONDON (ShareCast) - Support services group Serco has beefed up its presence in the US with the acquisition of SI International, a specialist contractor to the US government, for $423m.

Serco announced the deal alongside a 21% hike in pre-tax profits in the half-year to June to £62.8m from £52m. Revenues rose by 10.5% to £1.49bn.

The order book stood at £15.1bn at 30 June, with the group preferred bidder on a further £0.8bn of contracts. Visibility is 99% of planned revenue for 2008, 83% for 2009 and 73% for 2010, Serco said.

The firm reiterated its guidance for the current business of a 30 basis point increase in adjusted PBT margin for both this year and next, and double-digit revenue growth for both years.

"We remain confident for the rest of 2008 and beyond", chief executive Christopher Hyman said.

He added that the acquisition of SI International would give it a strong platform across the US armed forces and civil federal government agencies. "In the US market, the proposed acquisition of SI International will enhance our scale, capabilities, relationships and market access in the world's largest contracting market."

The interim dividend rises by 20.3% to 1.48p.

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