► Subscribe to the Financial Times on YouTube: http://bit.ly/FTimeSubs<br /><br />Serco shares slumped by a third after the support services company announced a profit warning and plans for a £550m rights issue. Lex's Robert Armstrong and Oliver Ralph discuss why Serco is failing and still not cheap even after the share price fall.<br /><br />For more video content from the Financial Times, visit http://www.FT.com/video<br /><br />Subscribe to the Financial Times on YouTube; http://goo.gl/vUQx5k<br />Twitter https://twitter.com/ftvideo<br />Facebook https://www.facebook.com/financialtimes
