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French recruitment firm Synergie SA (SDG: PAR) reported revenue for Q3 2013 of €406.4 million, an increase of +7.3% compared with 378.7 million last year. For the first nine months of the year, the company reported revenue of €1.1 billion, an increase of +2.2% compared with €1.09 billion for the same period in 2012.
Daniel Augereau, CEO of Synergie, commented: “During the third quarter, thanks to the improvement of its expertise, Synergie Group outperformed the market in all countries where it operates with a double digit growth abroad and a significant increase in France, where the activity is down nearly -10% from the beginning of the year.”
“All subsidiaries have contributed to these excellent results, with notable developments in particular in the United Kingdom (+23%), Germany (+18.3%), Italy (+14.2%), and Belgium (+13.4%). These increases confirm the Group’s strategy in France and abroad, thanks to investments in the sectors with high potential for deploying innovative offerings,” he continued.
In Synergie’s home market, France, revenue increased by +4.1% during the three months to September, increasing to €224.2 million from €215.4 million. For the year-to-date the company reported revenues in France of €625.8 million, a slight drop of -0.4% compared with €628.3 million for the same period last year.
Revenue from Europe and Canada increased by +11.6% during Q3 2013, rising from €163.3 million to €182.2 million. During the first nine months of the year, International revenues increased by +5.7% to €484 million from €458.1 million.
Looking forward, Mr Augereau commented: “Buoyed by its continued international expansion which today accounts for 45% of the Group’s business, and winning increased market share in France, Synergie should realise a consolidated turnover of around €1.5 billion this year with a significant improvement in profitability.”
In trading today the company’s share price fell by -0.8% to €13.19, an increase of +94.2% compared with a year ago. Based on its share price, the company has a current market value of €321.1 million.