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Groupe Crit Q2 revenue up 4.9%; US revenue rises despite persistent IT recruitment challenges

July 26, 2023

Groupe Crit SA, a Paris-based staffing firm, reported second-quarter revenue rose 4.9% year over year on an organic, constant currency basis to €652.9 million (US$711.0 million). The increase was 9.7% on a reported basis. US temporary staffing revenue rose 4.2% on an organic basis despite persistent recruitment difficulties in the IT sector.

The company reported strong temporary staffing activity in France with revenue up 3.3% to €386.6 million (US$421.0 million). Industries driving the growth included transport, agri-food, aeronautics and automotive.

Groupe Crit’s international temporary staffing revenue rose 26% year over year to €146.2 million (US$159.2 million), which includes the acquisition of OK Job effective Jan. 1. On an organic, constant currency basis, which excludes OK Job, international temporary staffing revenue rose by 0.7%.

In the US, where the company owns staffing firm Peoplelink Group, revenue rose 4.2% on an organic basis to €64.3 million (US$70.0 million). In Spain, revenue fell by 8.5% to €34.1 million (US$37.1 million) amid the effects of legislative reform by the government. US and Spanish revenue are included in international temporary staffing revenue.

Groupe Crit also has a multiservices division that provides services to airports, and revenue in that division rose by 13.2% on an organic and constant currency basis.

Share price and market cap

Shares in Groupe Crit closed down 0.52% to €76.60 (US$84.69) in Paris today; they were 8.15% below their 52-week low, according to FT.com. The company had a market cap of €866.3 million (US$957.7 million).