Concept Staffing boosts Synergie's sales
LEADING West Country recruitment specialist Concept Staffing has helped boost the sales growth for global recruiter Synergie Group, which posted a 5.5% increase in sales for the first nine months of 2008.
Synergie's sales earnings for the first three quarters of the year totaled €929 million. The company's international operations in the UK include Concept Staffing, Acorn and Advance Personnel, all part of the South Wales-based Acorn Group.
Strong international sales accounted for more than 32% of the total revenue during this period, with sales of €102 million in the third quarter boosted by the addition of Concept Staffing, which has offices throughout Somerset, Devon and Cornwall, and the acquisition of the Swiss-based Interactif business.
Concept Staffing, with a turnover of £21m, was established in 1988 and is celebrating 20 successful years in business this year.
Concept Staffing has its regional head office in Barnstaple and specialises in the catering, commercial, engineering, legal, manufacturing, industrial, sales and accountancy sectors, with a client list of more than 500 companies.
The Synergie expansion is consistent with forecasts and will contribute to the company's goal to increase the share of international operations in the revenue mix to 50 per cent within three years.
Outplacement and Human Resources Management Consulting activities achieved 50 per cent growth overall in the third quarter, maintaining the mid-summer momentum of the business.
"These performances, achieved while maintaining margins at existing levels, contributed to further gains in current operating income in a contracting economic environment for the first nine months," said a Synergie spokesman.
A positive cash balance that continued to show a surplus made it possible for Synergie to finance the acquisition for €35 million of ADR in the Netherlands, whose geographical positioning and business mix with 11 offices reinforces Synergie's strong coverage in Benelux.
The spokesman added: "With a significant presence in 12 European countries and Canada, the Group confirms its commitment to pursuing expansion through external growth, particularly in Germany and Spain, by closely monitoring the economic environment to identify potential targets.
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.
Acorn Group Managing Director Matt Southall, said: "We are delighted that here in the UK, Concept Staffing, Acorn and Advance Personnel, are continuing to make a significant contribution to the ongoing growth and achievements of Synergie."