Synergie records €205.5 million
Global recruiter Synergie Group, whose UK operation includes leading South West recruiter Concept Staffing, has reported earnings of €205.5 million for the first quarter of 2009.
In the first three months of this year, Synergie has witnessed a consolidation in sales across its operations in Europe and Canada, and is well-placed for the anticipated recovery and to achieve further gains in market share.
Despite particularly challenging conditions for the start of the year, the Group reported revenue of €205.5 million, compared with €291.9 million for the same period last year.
Steady first quarter sales of €139.1 million in France were boosted by revenues of €66.4 million in the rest of Europe and Canada, including Acorn in the UK.
With economic trends in other markets comparable to those in France, Synergie's international operations have demonstrated the same level of resilience.
A Synergie spokesman said: "Strategic measures including tighter control of fixed costs, grouping of agencies, rigorous management of trade receivables and acceleration of business diversification has focused the efforts of all employees on preparing for the anticipated recovery and laying the groundwork for achieving further gains in market share.
"The Group has a solid financial structure and positive net cash. This reinforces its ability to take advantage of potential external growth opportunities that will allow it to pursue its development as a leading provider of Human Resources Management solutions."
Karen Sharpin, Divisional Manager of Concept, said: "We are delighted that here in the UK, Concept Staffing is well-positioned to continue making a significant contribution to the on-going achievements of Synergie."
Synergie, listed on Eurolist Compartment B of NYSE Euronext Paris, is a leading independent provider of global human resources management services with a network of 550 agencies in Europe and Canada. Synergie is included in the CAC Small 90, CAC Mid and Small 180 and SBF 250 indices.