French staffing firm Groupe Crit (CEN: FP) reported revenue yesterday for the second quarter ending 30 June 2018 of €652.0 million, an increase of 2.5% and up 3.5% organically and at constant foreign exchange rates, compared with the same period last year.

The group also posted H1 2018 figures with revenue of € 1.21 billion up 3.6% (up 4.9% organically at constant exchange rates) when compared to last year.

In France, which was 76.6% of total H1 revenue, organic growth was up 6.2% to € 932.3 million in H1 2018.

International activities were impacted by unfavourable exchange rates. On a like-for-like basis and constant foreign exchange, H1 international revenue increased by 1.2% in H1. In the second quarter, international revenue was up 1.9%.

Staffing & Recruitment

The group’s staffing & recruitment division, which was 83% of total revenue, exceeded revenue of €1 billion for the first time. In the H1 period, revenue in this division increased by 2.6% (up 4.2% organically and at constant exchange rates) to €1.01 billion.

Within the staffing & recruitment division, growth in France was up by 5.5% in organic growth (or 6.4% adjusted for working days) to €774.5 million in H1 2018.

International operations within the staffing & recruitment division amounted to €239.3 million, down 5.7%, due to unfavourable exchange rates. On a like-for-like basis and at constant exchange rates, international activities remained stable over the period, with a decline in US activities being offset notably by sustained growth recorded in Spain.

Multi-services

In the group’s Multi-services division, H1 revenue amounted to € 213.2 million, rising by 8.4% (up 8.7% organically at constant exchange rates). Revenue in this division during the second quarter amounted to €114.6 million, increasing by 7.2% (up 7.4% organically and at constant exchange rates).

In Airport services (77% of activity in the Multi-services division), H1 revenue increased by 9.7% to €164 million (up 10.1% organcially and at constant exchange rates), driven by French activities which recorded an organic growth of 11.5% to €119 million. International activity in this division posted an increase of 5.3% (up 6.4% organically and at constant exchange rates).

“Over the coming months, the group will remain attentive to external growth opportunities that could enable it to strengthen its operations or to establish itself in new countries, particularly in Europe,” Groupe Crit said.

In trading yesterday shares at Groupe Crit closed at €77.20, up 1.18% on the day. Based on its current share price the company has a market value of €866.25 million.