French staffing firm Groupe Crit (CEN: FP) reported revenue yesterday for the second quarter ending 30 June 2019 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.

Groupe Crit also reported revenue of € 1.23 billion for the six months ended 30 June 2019, an increase of 1.3% in reported rates and up 0.3% at constant currency when compared to last year.

During the H1 period, France, which made up 76.6% of total activity in H1, reported revenue of €943.5 million, increasing by 1.2% (up 1.7% in organic growth and working days adjusted). H1 international revenue amounted to €288.9 million, up 1.6% (down 1.9% at constant currency).

Staffing & Recruitment

The group’s Staffing & Recruitment division revenue, which made up 82% of the group’s business during the period, remained stable in H1 2019. French Staffing & Recruitment H1 revenue amounted to €768.3 million with a slight decline of 0.8% compared to H1 2018. Adjusted for working days, revenue remained stable. The group said its performance in this division was in line with market trends.

International Staffing & Recruitment H1 revenue (24% of the division’s business), amounted to €243.1 million, up 1.6% and benefiting from favorable foreign exchange impacts. At constant currency, international activity decreased by 2.4%, including a decrease in the US activities due to contrasting market conditions (down 1.7% at constant currency).

Multi-services

The multi-services division reported a revenue increase of 9.0% to €233.4 million, up 8.2% at constant currency.

In H1, Airport services (79% of multi-services division) increased by 12.4% to €184.5 million driven by the French activities rising by 16.4% (up 12.8% in organic growth).  “For the coming months, Groupe Crit is confident in its ability to support the evolution of its markets while maintaining a high level of activity and anticipates a positive trend in its first half-year results,” the group stated.

In trading yesterday Groupe Crit traded at €59.90, down 0.66% on the day. Based on its current share price the company has a market value of €675.0 million.