French staffing firm Synergie (SDG: PAR) reported revenue for the fourth quarter ended 31 December 2017 of €627.3 million, an increase of 19.7% when compared to the same period in the previous year.

Full year revenue for Synergie was €2.32 billion, an increase of 16.6% from 1.9 billion in 2016.

Last year the group announced that it had signed an agreement to take over 80% of Völker, an HR firm in Austria. The majority takeover is part of Synergie’s strategy in actively pursuing its development in Europe and around the world. The company was integrated on 1 November 2017, and generated turnover of €73 million over the calendar year.

The group's activity outside of France grew by 22.3 % for FY 2017 to €1.17 billion (50.5 % of consolidated turnover). Full year turnover in France reached €1.15 billion, representing growth of 11.3 %.

Synergie stated that its performance for the full year “can be attributed to investments both in France and internationally (recruitment of consultants, extension of the network by creating new branches, training programmes, etc.) and the capturing of new market share thanks to innovative offerings in growth sectors such as aeronautics, renewable energies, shipbuilding and new information and communication technologies.”

“In view of the sharp improvement in its profitability and strengthened capital, the group is pursuing the negotiations it initiated with several players in northern Europe to extend its services offering among large international accounts,” Synergie stated. “Based on its strategy and the strong economic environment, Synergie aims to generate turnover of around €2.6 billion in the current year.”

As of last trade Synergie traded at €49.50, up 3.13% on the day and 5.35% below its 52-week high of €52.30, set on 23 January 2018. Based on its current share price the company has a market value of €1.17 billion.