Synergy in good health as global expansion boosts annual profits

June 5, 2014

Further expansion in China, the US and Africa helped push up annual profits at Swindon-based specialist outsourcing services group Synergy Health.

The group, whose services span sterilising equipment by irradiation and  cleaning hospital laundry, made pre-tax profits of £42.9m in the year to the end of March – a 13% rise – on revenues up £380.5m.

During the period Synergy won contracts worth a total of £48 million a year, adding £500m to the forward order book, which now stands at £1.5bn.

In the US, which is becoming a core market for the group, interim services were underway on what is the group’s largest-ever HSS (hospital sterlisation services) contract win, with a new facility opening in May next year. It also continued its expansion in China with the opening of three new HSS facilities in Wuhan, Nanjing, and Chengdu.

More than a quarter of its revenue now comes from the American and Asia and Africa regions, up from 22% in 2013. It expects this trend to continue.

In the UK, the firm won four new HSS contracts collectively worth £1.6m a year, while it also opened a new gamma irradiation facility in France.

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