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Acorn partner Synergie posts 10% sales increase
Global recruiter Synergie Group, whose international operations include Acorn, Advance Personnel and Concept Staffing in the UK, has reported a sales advance of 11% in the first quarter over year to €292 million.
Strong international expansion in Europe and Canada contributed sales of €94 million in the quarter or more than 32% of total revenue.
“This performance is in line with management’s forecasts and goal to increase the contribution of operations outside France to 50% of total revenue within the next three years,” said a Synergie spokesman.
Concept Staffing, acquired in December 2007 and now successfully integrated with South Wales-based Acorn, registered sales growth in the first quarter of 26%, further strengthening Synergie’s presence in the UK where the Group now has a network of 34 branches.
Growth in total Group sales, combined with the very strong development of outplacement and human resources management services and effective control of overhead costs, as in 2007, contributed to significant improvements in operating performances in all markets where Synergie operates in France and other regions. As a result, consolidated net income rose 20%.
After acquiring Interactif (9 branches in the French-speaking part of Switzerland) in March 2008 and the French consulting firm Eurydice Partners (9 branches) in April, the Group continues to have positive net cash assuring it ample resources to pursue further acquisitions, particularly in international markets.
Synergie, listed on Compartment B of NYSE Euronext Paris, is a leader in global human resources management with more than 510 agencies in Europe and Canada.
Matt Southall, Group Managing 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 ongoing growth and achievements.
“This year we’re on course to achieving £100m worth of annual revenues here in the UK.”
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