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.