Synergy Plus swings back to 1H profit

IT infrastructure service provider Synergy Plus (ASX:SNR) has swung back to an $1.6 million pre-tax profit for 1H10, from a $1.1 million loss in the first half of FY09.

Revenue grew 3% to $76.9 million, as a result of the new business arising from the company’s acquisition of Leading Solutions, as well as increased enterprise-level data centre solution sales.

But expenses increased to $15.6 million from $14.4 million, due to costs incurred as a result of the Leading Solutions acquisition, the aborted acquisition of S Central, and the relocation of Synergy’s Perth and Sydney offices.

SNR shares are trading unchanged at $0.040.