LONDON (Alliance News) - Synergy Health PLC said Thursday that it is trading in line with its expectations for its current financial year, as it saw revenue rise 9% in its first quarter.
In the quarter to end-June, the company reported revenue of GBP104.2 million, up from GBP95.6 million. At constant currency, revenue would have increased 10.7%. The company said its operating margin remains 60 basis points higher than in the previous year.
Synergy is in the process of being taken over by the US's STERIS Corp. However in June the long stop date for the completion of the proposed deal was extended to December 31, after the US Federal Trade Commission said it intends to block the USD1.9 billion cash and share takeover as a result of concerns relating to competition in the market for contract radiation sterilisation services. STERIS and Synergy Health are contesting the FTC's move.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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