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Global recruiter Synergie reports 80% hike in net income
Global recruiter Synergie Group, whose international operations include Acorn, Advance Personnel and Concept Staffing in the UK, announces an 80% increase in net income in 2007
Synergie and its network of 510 agencies again outperformed the market with significant business growth in human resources management in 12 countries in Europe and in Canada.
In fiscal 2007, net sales grew 11.6% over 2006 to €1,189 million and net income surged 80%. Like for like, current operating income advanced 19%.
With a solid balance sheet, with shareholders’ equity of €166.8 million (up 24.6% over 2006) and gearing close to zero, the Group is well-positioned to explore acquisition opportunities.
In five years, the percentage from international operations in the sales mix has increased four times to €364.2 million at 2007 year-end, an equivalent increase of 31% of total group revenue.
Now present in Spain, Portugal, Italy, Belgium, Luxembourg, the United Kingdom, the Czech Republic, Slovakia, Poland, Canada and, starting in the first-quarter in the French-speaking part of Switzerland, following the acquisition of Interactif Conseil en Personnel (9 agencies,CHF 20 million), Synergie Group’s goal is to increase the contribution of international operations to the consolidated revenue mix to 50% within the next 3 years.
The opening of close to 22 agencies in France in recent months and new major partnerships concluded with public employment agencies will contribute to advancing Synergie Group to fourth position in the French market in early 2009
Dan Langford, Group Marketing Director of Acorn, said, “We are delighted that here in the UK, Acorn, Concept Staffing and Advance Personnel, are making a significant contribution to Synergie’s on-going growth and achievements.
“We are well on course to achieving our stated aim of Ł100m worth of annual revenues in the UK by the year-end, a target we are achieving through both organic and acquisitive means.”
Synergie is listed on Eurolist Compartment B of Euronext Paris (ISIN FR0000032658), and has more than 470 branches in Europe and Canada. The Group is included in the CAC Small 90, CAC Mid and Small 190 and SBF 250 indices. www.synergie.fr
April 2008
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