Groupe Crit SA, the French staffing firm, reported revenue yesterday of €2.53 billion for the year ended 31 December 2023, an increase of 8.5% when compared to 2022. Organic growth stood at 3.5%.

In January Groupe Crit reported its fourth quarter revenue results, however its 2023 annual results include additional information.

The group said all of its activities contributed to its FY performance.

In temporary work (81.2% of total activity), activity is growing continuously with turnover increasing by 7%, to €2.06 billion. Growth was achieved both in France and internationally.

In France (71.9% of the temporary work division's activity), turnover reached € 1.48 billion, an increase of 1.7% compared to the 2022 financial year.

Internationally (28.1% of the division's activity), turnover stands at €577.9 million, down 2.1% organically and at constant currency). Including the acquisition of Swiss-based OK Job in December 2022, turnover was up 23.3%.

The Multi-Services division (19.9% of activity for the period) reported turnover of €504.1 million, an increase of 14.6% (+14.9% organically and at constant currency). Airport activities, which comprise 76.5% of the division's activity, reported turnover of €385.8 million, an increase of 14.9% compared to the 2022 financial year.

Looking ahead, in temporary work, despite a contrasting 2024 start with delegated staff numbers down in January and February, the group remains confident in its business outlook.

In the airport sector, the start of the year is going well across all of the group's locations, Groupe Crit said. Air traffic forecasts allow the company to anticipate growth over the entire financial year, it added.

In December, the group announced the signing of an agreement relating to the acquisition of a majority stake in the capital of the Italian staffing firm Openjobmetis. In February, Openjobmetis announced Groupe Crit had finalised the due diligence process regarding acquisition plans for the Italian staffing firm.

Subject to approval of the transaction by the Italian authorities, the finalisation of the deal would increase Groupe Crit’s stake in Openjobmetis capital to 64.65%. This would then be followed by a mandatory public tender offer on the remaining shares.

“The integration of Openjobmetis will constitute a key step in strengthening the group's positions internationally, with 50% of temporary work activity carried out outside France, and will enable it to exceed €3.3 billion in turnover annual (proforma basis),” Groupe Crit stated.