Synergy says it is on track to recovery

Synergy is on track to restore its margins by autumn, it has claimed.

The healthcare company released its preliminary financial results for the year ending March 29th 2009.

Revenues increased from 225 million pounds for the previous year to 274.1 million pounds ? a 21.8 per cent rise.

Profit before tax grew 4.8 per cent to 26.1 million pounds from 24.9 million pounds in 2008.

Chief executive Richard Steeves noted it has been a “very challenging year” for the company, but added the global healthcare market has proved to be resilient.

“Demand for our services generally remains strong driven by demographic trends, regulatory pressures and government spending commitments,” he commented.

Mr Steeves said the firm will hopefully bring back margins to levels “previously enjoyed” over the coming months.

Synergy will still aim to enter new markets in the sector and expand into new European territories, he concluded.

In April, the company asserted it was beginning the new fiscal year in a strong position.