MERSEYRAIL operator Serco today posted better turnover and pre-tax profit levels for the six months to June 30.

The international services provider also reported strong visibility for revenues up to 2013, despite “headwinds” in the UK and US economies.

It said 43% of total group revenues are now generated outside the UK.

Sales in the six month period rose 4.9% to £2.24bn and pre-tax profits were 10.3% better at £111.8m.

Contract awards amounted to £2.5bn of rebids, extensions and new contracts during the interim period.

Serco said it continues to win one in two new bids and 90% of rebids and extensions.

In addition, a further £1bn of major contracts have been clinched in the second half, so far.

It said it also had an order book worth £16.7bn by June 30, compared with £16.6bn at December 31, 2010, while it reports 91% visibility of planned revenues for 2011; 82% for 2012; and 69% for 2013.

Meanwhile, Serco is eyeing a £29bn pipeline of identified opportunities around the world.

The group, which owns 50% of the Merseryail franchise, believes further opportunities exist due to the need for further efficiencies and improvements in services by customers around the world and the potential from ongoing public service reform in the wake of the coalition Government’s austerity measures last October.

Today’s statement said: “Assuming the impact of ongoing economic challenges is manageable, our guidance remains that by the end of 2012 we expect increases in revenue to approximately £5bn and in adjusted operating profit margins to approximately 6.3%.

Chief executive Christopher Hyman said today: “Our international portfolio has delivered a good performance in the first half of the year through the commitment of our people to provide high quality and cost-effective essential services.”

He said the group’s UK and US markets face “challenging conditions” but said its strengths “underpin our strong growth opportunities into the future”.

Liverpool stockbroker Panmure Gordon maintained its ‘hold’ recommendation on Serco’s stock, saying: “While half one results are some 4% ahead of our forecasts at the adjusted profit before tax level, we believe the market will be disappointed by the flat organic growth for half two 2011 driven by difficult headwinds in the UK and US.”