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Synergie reports first quarter growth of 11.5% in France and 19% abroad
Synergie Group, the majority owner of Acorn, announces first quarter revenue growth of 11.5% in France and 19% abroad, which includes the UK-based Acorn business.
For the fiscal year 2006, consolidated turnover reached €1.065 billion, a 14.9% leap from 2005, while consolidated income grew 14% to €22.2 million. Acorn, Synergie’s UK operation, experienced growth in consolidated turnover by 15.3% to Ł41.5m.
Over the last five years, Group activity abroad has increased six-fold, representing 27.4% of turnover at the end of 2006 (at €292 million), against 21.9% in 2005.
New agencies continued to open in Europe and Canada over the year, an investment bolstered by the integration of Acorn starting on 1 January 2006.
With net equity at €134 million and low debt offering an excellent context for external growth operations, April 2007 saw the year’s first operation with Acorn’s acquisition of Advance Personnel, located in northeast England and Poland, whose turnover is nearly €30 million.
Performances in the first quarter of 2007 brought turnover to €263 million, against €231.6 million in 2006, a 13.6% increase.
Accelerating development in France (up 11.5%) and an excellent growth dynamic observed abroad (up 19%) make for a very positive outlook in 2007, both in terms of increased market share and significant improvement in results. The Group is aiming to reach €1.2 billion in turnover this year.
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