ARN

Synergy expects half-year gross profit

ASX-listed integrator anticipates pre-tax profits to exceed $1m

ASX-listed integrator, Synergy Plus (ASX: SNR), is anticipating a return to pre-tax profitability in its first-half year.

According to an ASX statement, the company expects pre-tax profits to be between $1.5m and $1.6m for the six months to December 31, 2009. This compares with a pre-tax loss of $1.1 million year-on-year.

Acting CEO, Pete Cappendell, attributed the turnaround to its improved market position and the integration of ComputerCorp’s existing business with Synergy Plus, which it acquired for $9.3 million in April 2009. The stronger result also comes despite the failed merger between Synergy and S Central, which was announced in April and abandoned in September last year.

ComputerCorp rebranded to Synergy Plus officially in November.

"My focus during my tenure as acting CEO has been on getting us into profit for the half," Cappendell said. "It has been a good start to the year but we still have so much work to do."

The integrator also acquired the assets of defunct rival, Leading Solutions, in November, 18 months after the pair dumped plans to merge at the eleventh hour. As previously reported in ARN,

Synergy’s full and audited results will be released in late February.

Come socialise with us! Facebook | LinkedIn

More about: ARN, Leading Solutions, S Central, Synergy, Synergy Plus
References show all

Comments

1

Tony Heywood

Fri 05/02/2010 - 11:48

Synergy Profit

Great to see that the strategy the management team put in place with the Board 24 months ago has paid off for shareholders.

2

Anonymous

Sat 06/02/2010 - 10:12

Does this account for the still not completed transaction for Leading Solutions ? HP not ratified and agreed - one wonders why.

Then the numbers will turn south.

3

BBBBH

Sat 06/02/2010 - 17:37

nqr

Something regarding the LS/Synergy deal is NQR

Post new comment

The content of this field is kept private and will not be shown publicly.
Users posting comments agree to the ARN comments policy.
Login or register to link comments to your user profile, or you may also post a comment without being logged in.
Related Coverage
Related Whitepapers
Latest Stories
Community Comments
Tags: synergy plus, financial results, computercorp
rhs_login_lockGet exclusive access to ARN's news, research and invitation only events.
ARN Distributor Directory
Find distributors by name | vendor | location
Channel Deals
/deals/avg/2011-02-25_368_avg-wants-you
AVG (AU/NZ) Pty Ltd

AVG Wants You!

More details »
ARN Vendor Directory
Find vendors by name | category

iAsset is a channel management ecosystem that automates all major aspects of the entire sales,marketing and service process, including data tracking, integrated learning, knowledge management and product lifecycle management.