Serco is simply delighted with the Gillard Government's policies.

Here's how Serco shareholders are hearing about the great things happening in Australia.

These paragraphs are from Serco's 2012 (calendar year) Annual Report.

The very strong organic growth reflects revenues from new contracts begun in 2012 and those that were begun but not fully operational during 2011, as well as the expansion of existing contracts, particularly an increase in the amount of work undertaken for the Australian Department of Immigration and Citizenship (DIAC).

In Immigration Services in Australia, the level of irregular maritime arrivals has increased in 2012, leading to a growth in the number of people in our care.   In response, we successfully managed the opening of new detention centres in the Northern Territory and Western Australia.   The level of our future activitiy is still likely to fluctuate based on country conditions in the Middle East and Asia, where most people in our care originate, and the prevailing government policy, speed of visa processing and the application of the Australian government's recent off-shore processing legislation.   Serco has a very strong customer relationship with DIAC, with both parties working closely to maintain a safe and stable network of centres, responding with humanity and respect in the operation of this sensitive contract.

Nice work if you can get it!

Of all the variables Serco quotes, country conditions, speed of processing, effect of off-shore etc, none is so important for a constant flow of Serco clients as this variable, noted in (my) bold in the Serco commentary above;

the prevailing government policy

As Serco implicitly notes, the prevailing government policy of the Howard administration wasn't worth much at all for Serco shareholders.   With Gillard/Rudd at the helm, the cash flows are really terrific and I'll bet Serco shareholders are lobbying for a Labor win in September.

And this is how The Age is reporting on Serco today - astute observers may note the absence of any reference to Australian Government policy.

Detention contracts worth $1.8b

Private security company Serco's contracts with the government have blown out by $1.5 billion as the flow of asylum seekers has increased.

Serco Australia provides immigration detention services and has two contracts with the federal government that have been active since 2009.

But those contracts have ballooned from $323 million four years ago to a record $1.86 billion this year.

Serco in its annual report has welcomed the increase in asylum seekers but says future profits in Australia will depend on the ''country conditions'' in the Middle East and Asia.

Serco's contract for running Australia's detention centres was originally valued at $279 million in 2009. It is now worth $1.67 billion. Its other contract - for housing and immigration transit services - has grown from $44 million in 2009 to $195.4 million this year.

It was updated for the fourth time last month, rising from $94 million to $195.4 million.

Both contracts are subject to confidentiality agreements.

Serco Australia enjoyed a 45 per cent rise in net profit to $59 million in 2011. It has not yet lodged its annual accounts with ASIC disclosing its 2012 profit. But its annual report shows it generated £824 million in revenue in Australia in 2012, up from £660.4 million in 2011.

Serco says its profits in Australia reflect its workload for the Department of Immigration. ''The level of irregular maritime arrivals has increased in 2012, leading to a growth in the number of people in our care,'' its report notes.