Overseas deals inject growth into Synergy

City A.M. Reporter
SYNERGY Health, which provides support services to the healthcare industry, yesterday reported a 16 per cent rise in full-year profit as strong revenue growth in Asia and Africa offset weaker growth in its Europe and Middle East, and UK and Ireland operations.

The company, which sterilises surgical gowns and surgical instruments and provides laboratory services to hospitals and surgery centres, said it expects good growth prospects in all its regions, particularly in Asia and the US.

During the year, Synergy accelerated its move into hospital sterilisation in the US to help offset the effects of the falling euro on its European markets.

Adjusted profit before tax rose to £50.3m for the year to the end of March, from £43.4m a year earlier. Revenue grew 15.8 per cent to £361.2m.

“Throughout the year the number of business development opportunities has increased significantly, and as a result the Board is confident that Synergy will enjoy another successful year of growth in line with its objectives,” said chief executive Richard Steeves.

Shares in the group closed up 3.45 per cent per cent at 1,108p yesterday.