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France – Freelance.com revenue rises

13 September 2012

The French staffing company Freelance.com (ALFRE:PAR) reported on Wednesday that half-year revenue has grown to €25.8 million, seeing +7% organic growth.

This follows on from record growth seen in the first quarter of the year when revenue rose +17.6%. In the second quarter, revenue did not increase as strongly but still improved by +4%, driven by the firm’s consultancy segment.

“This performance is satisfactory insofar as the group's activity, primarily founded on the number of working days, suffered from an unfavourable calendar effect in France, with two fewer working days in the second quarter, compared to the second quarter of 2011,” the company said.

The group recorded strong growth in Morocco where revenue reached record levels, rising by +37.6% year-over-year.

Temporary employment in France has not seen ideal trading conditions this year with large companies such as Groupe Crite witnessing declines in revenue deriving from the French staffing market.

Official statistics this week showed that the number of temporary workers in the first half of the year dropped by -3.5% on the previous month to 587,100. A year ago, there were considerably more temporary workers active in the labour market as their numbers has since then fallen by -10.4%.

Freelance.com is a France-based sub-contracting company for freelance professionals who are seeking both short-term and long-term contracts. The firm offers its services in a range of sectors, including information technology, marketing and communication, and consultancy. It operates in countries including France, Morocco, Switzerland and Spain. Last year, full-year revenue was €50.0 million.

In early trading this morning, the company’s share price was flat at €1.33, up +10.8% from a year ago and -11.3% below its 52-week high of €1.50 seen in March. The firm has a market value of €3.64 million. 

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