Daily News

View All News

France – Groupe Crit reports strong Q3 growth

28 October 2014

French staffing firm Groupe Crit (CEN: FP) reported revenue of €461.6 million for the third quarter ending 30 September 2014, an increase of +8.9% (+5.2% in constant currency) compared with €423.9 million last year.

Revenue from the French market rose by +6.7% to €361.5 million during the quarter, while international revenue increased by +17.6% to €100.2 million.

The company’s Staffing & Recruitment division reported revenue growth of +9.4% to €389.1 million during Q3 2014, compared with Q3 2013. In France, the division’s revenues rose by +6.4% to €299.9 million, marking the fifth consecutive quarter of growth. Groupe Crit’s growth in France outperformed the market, which grew by +0.5% to the end of August, according to data from the French Association of Employment Agencies.

International revenue from Staffing & Recruitment rose by +21% to €89.2 million. Both the United States and Spain contributed to the growth, with Spanish revenue increasing by +13% and US revenue up by +29% compared with Q3 last year. The strong growth in the US was driven by the integration of the company’s recent acquisitions.

In the company’s half-year financial statement, Groupe Crit stated that it believes that the integration of its latest acquisition (Actium Consulting) will enable the Group to exceed its goal of achieving annual revenue of USD 300 million in the United States. In Spain, the company believes that the steady growth noted during the second quarter is expected to continue. 

For the first nine months of the year, total company revenue rose by +9% to €1.3 billion, up from €1.1 billion in 2013. Revenue from France increased by +6.1% to €981.7 million, while international revenue rose by +21% to €271.6 million. 

In trading today, the company’s share price rose by +1.7% to €40.20, an increase of +34.7% compared with a year ago. Based on its current share price, the company has a market value of €444.7 million.