French staffing firm Groupe Crit (CEN: FP) reported revenue yesterday for the first half of 2019 of €1.23 billion, an increase of 1.3% compared to last year and by 0.4% on an organic basis.

In July 2019, the company reported second-quarter results of €650.0 million, a decrease of 0.3% in reported rates and down 1.1% in constant currency, compared with the same period last year.

The group applied the International Financial Reporting Standard 16 for its results.

Net profit during the period was impacted by a charge related to the exit of CICE (tax credit for employment and competitiveness).

Revenue by division

The group’s Staffing and Recruitment division, which made up 82% of the group’s revenue, recorded revenue of €1.01 billion, down 1.2% compared to the previous year on an organic basis.

In France, staffing revenue amounted to €768.2 million, down 0.8% from €774.6 million during the same period last year.

International staffing revenue rose 1.6% to €243.1 million, which included favorable exchange rate effects.

The Multi-services division reported revenue of €233.5 million, up 8.2% organically. Growth in the division was driven by French activity within airport services.

Looking ahead, the group said it is entering the second part of the year with confidence.

The group will also be attentive to external growth opportunities that could enable it to strengthen in Europe.

Groupe Crit will publish its third quarter results on 23 October 2019.

In trading yesterday Groupe Crit shares closed at €60.50, down 0.3% on the day. Based on its current share price the company has a market value of €697.50 million.