Synarbor PLC Preliminary Results for the year ended 31 December 2007

Synarbor PLC a leading resource and support services provider today announced preliminary results for the year ended 31 December 2007.

Account highlights include:
ï Disposal of healthcare division for a consideration of 5.2m after adjustments
ï Management restructured to reflect the convergence of education and social work
ï 4.9m raised through placing of 12m new ordinary shares
ï Net debt reduced by 49% to 12.5m (2006: 24.2m)
ï Top three position in our chosen sectors of education and social work
ï Normalised profit from continuing operations up 10% to 2.9 million
ï Revenues remain strong despite restructuring and mixed trading environment - 56.4m (60.0m in 2006)

ìThe repositioning and rebranding of the company has enabled Synarbor to broaden its offering to encompass all support services,î says Luke Johnson, Chairman of Synarbor, ìproviding an innovative holistic approach that utilizes the companyís existing sector expertise and maximizes the synergies between the education and social work sectors.î

ìWith respect to our financial performance,î adds Dean Kelly, CEO of Synarbor, ìfew companies could have transformed themselves so radically in the course of a year while maintaining revenues and gross profits at the level we managed. Meanwhile normalised profits grew by 10% and our net debt halved. Such figures are an achievement that we should be proud of.î

ìWe are now set fair for a 2008 that reflects the hard transformative work undertaken in 2007. I believe that we now have the right strategy, the right products and the right team to make continued progress in the coming year, despite the challenging trading environment. In fact, given the efficiencies we offer to our chosen markets, I see any deterioration in trading conditions as an opportunity for long term provision and a catalyst for our model.î

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