Synergie, the sixth-largest staffing firm in France, reported revenue rose by 7.8% in the third quarter ended 30 September 2023. Revenue totalled €794.1 million in the third quarter. Revenue was up 2.8% organically and at constant currency.

Revenue was driven by the performance in the international business and acquisitions.

In France (40% of the consolidated during the period), revenue grew by 0.9% in the third quarter which was driven by a positive pricing effect in a declining overall market.

International revenue growth of 12.9% was driven by recent acquisitions in Poland and Germany which had a positive impact of €38.3 million and by organic growth (excluding exchange rate effect) of 4.4%.

In September 2022, the group signed an agreement for the acquisition of 100% of InterKadra in Poland. In March 2023 Synergie signed an agreement to acquire German staffing firm Runtime Group.

Southern Europe reported 8.1% growth driven by the good performance of Italy and Spain during this quarter.

The performance of Northern and Eastern Europe (up 23.3%), benefited from the contribution of acquisitions despite economic difficulties in the main markets of this area.

The weaker turnover performance of the region outside Europe (-3.9% excluding exchange rate effects) is linked to that of Australia which is following the group’s strategic decisions aimed at improving its profitability.

Synergie also reported revenue of €2.30 billion for the nine-month period, up 6.3% over the previous year

Looking ahead, despite the macroeconomic difficulties felt in some of the markets where the group is present, Synergie remains confident in its ability to meet the increased needs for flexibility and agility of businesses while offering candidates innovative and secure human resources solutions.

“We confirm the prospects announced during the communication of our half-yearly accounts," the group stated.

Synergie shares last traded at €29.45 down 0.67% on the day and 9.89% above its 52-week low of €26.80, set on 3 November 2022. The company has a market cap of €722.33 million.