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France – Synergie plans international growth as domestic revenue fall

26 July 2012

Revenues were up by a mere +2.8% from €688.4 million in H1 2011 to €707.7 million in H1 2012 at Synergie SA (SDG:PAR), the world’s 15th largest staffing firm. Revenue growth was driven by a rise of activity abroad, as international revenue rose by +10% to €294.8 million Euro in the first six months of the year. But in France, revenues declined by -1.8% from to €412.9 million Euro.

Synergie also reported yesterday that second-quarter revenues rose slightly by +1.5% from €364.7 million in Q2 2011 to €370.3 million in Q2 2012. Once again, international activity was the main driver for revenue growth, increasing by +9.3% from €140.6 million in Q2 2011 to €153.8 million in Q2 2012. However, in France revenues dropped by -3.4% to €216.5 million in Q2 2012.

The company said it was confident in increasing its international activity further, planning to boost international revenues to 50%, compared to the current level of 42%.

Synergie specialises in temporary employment, outplacement, recruitment and training services operating in a range of economic sectors, notably in industry.

In early trading this morning, Synergie's shares were down by -0.9% to €7.00, down -45.7% from a year ago and +2.04% above its 52-week low of €6.86 set in May 2012. The firm has a market value of €172.24 million.



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