The French temporary staffing firm, Group CRIT (CRIT:PAR), has announced that revenues in the fourth quarter of 2011 increased by +13% to €391.6 million (+5.4% in constant currency). Overall revenue for 2011 amounted to €1,512.4 million, up +15.4% from €1,310.8 million in the previous year. 

Sales for the firm’s temporary business, which made up 84% of the total revenue, was primarily generated in France. There the company “reinforced its market shares with sales up by 14%.” This correlates with the growth of the French market in temporary staffing which, in 2011, increased by +11% according to figures published by the French confederation of temporary employment agencies, PRISME. The firm stated that its strong performance in the domestic markets was entirely generated from organic growth.

The group, which also operates internationally in Africa and Ireland, said that 2011 has been a significant year for its international growth with revenues having increased by +47.6% to €124.9 million from €84.6 million in 2010. “This strong growth includes the activity of the North American staffing company PeopleLink,” which the firm acquired in September 2011. For the full year, revenues at PeopleLink were up +21% to €96.7 million. At constant currency, sales increased by +27% to US$135 million.

Revenues for the company’s so-called “multiservices” division, which includes airport assistance and industrial maintenance, met expectations and reached a total revenue of €254.3 million in 2011, up +8.8% from the previous year. This has been sustained in Q4 with sales amounting to €65.9 million, a +12% increase which was mainly generated “from the strong dynamic of Engineering and Maintenance activities.” 

"The growth in all business segments will positively impact the growth in results and improvement in margins for the year 2011. The strengthening of its positions in 2011 both in terms of network extension and market shares will allow the Group to keep up its development in France and abroad," the firm stated in a press release. 

Group Crit is a France-based holding company that specialises in service provisions and is split into three divisions: temporary employment & recruitment services; airport services; and engineering and maintenance. The company operates several subsidiaries, including Crit Interim, which manages the Group's temporary employment services.

The firm has a market capitalisation of €173.36 million. 

In early trading this morning, shares for Group Crit were up by +1.2% at €15.97, 60.99% above the 52-week low of €9.92 set on 24 November 2011.