French recruitment firm Synergie (SDG: PAR) reported revenue yesterday for the fourth quarter ending 31 December 2016 of €524.1 million, an increase of 11.7% compared with €469.0 million during the same period last year. The company also reported revenue for the full year of €1,991.5, an increase of 10.3% compared to the previous year.

According to Synergie, the fourth quarter increase of 11.7% was the strongest rate of quarterly growth for the year 2016, despite one less working day (impact of €8.2 million) and the depreciation of pound sterling (impact of €5.8 million over the quarter).

Full Year Revenue

At €958.3 million, the group's annual international activity (48% of consolidated turnover) showed growth (9.5%), notably in regions in which Synergie is well established, such as the Benelux countries (+15.2%) and southern Europe (+15.2%).

In France, turnover saw double-digit growth throughout the year, surpassing the one-billion-euro threshold for the first time. This outperformance in a market that saw growth of 6.7% as at 30 November according to Prism’emploi data, can be attributed to strategic investment in high growth sectors such as aeronautics, renewable energies and specialised services, which present innovative offerings (OpenCenters, Global Cross Sourcing, etc.), in an economic environment that shows positive trends for all activities.

The company also pursued negotiations with several European networks to extend its offering among large continental accounts, while at the same time maintaining sufficient geographical and human proximity to deliver services that meet the requirements of all our clients.

On the back of this performance and its financial position, Synergie aims to generate turnover of around €2.2 billion over the current financial year.

In trading yesterday. Synergie set a new 52-week high when it reached €38.95, up 1.59% on the day. Over this period, the share price is up 59.44%. Based on its current share price the company has a market value of €946.4 million.