Computercorp returns to profit as Synergy Plus

Stephen Withers
Tuesday, 23 February 2010 13:02

IT Industry - Listed Tech

Significant changes at Synergy Plus (formerly Computercorp) saw the group return to profitability in 2009.

2009 was a busy year for the business formerly known as Computercorp. It acquired Synergy Plus (adopting that name and brand), Coretech, and Paragon, and agreed the acquisition of Leading Solutions.

The bottom line was that the 2H08 loss of $1.1 million became a $1.6 million profit in 2H09.

The improvement is largely attributed to the company's services and enterprise data centre solutions businesses.

"A cultural transformation of the company has also contributed to this steep turnaround," said a company spokesperson.

Acting CEO Peter Cappendell said "the profit result reflects the early success of our transformation project, which has been ongoing since August of last year."

He added "Our focus has been on growing our enterprise class data centre business solutions business and building out our services across our national network. Our overall goal is be one of the few Australian service providers who can provide both infrastructure and service offerings to customers on a national scale while providing a profitable return to our shareholders."