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France — Groupe CRIT revenues down by -21.3% in Q3 2009

29 October 2009

Groupe CRIT (CRIT:PAR), the France-based temporary employment and airport assistance specialist, has reported revenues down by -21.3% from 383.9 million Euro in Q3 2008 to 302.1 million Euro in the third quarter for 2009 ended 30 September 2009. CRIT saw revenue fall by -29% in each of the previous two quarters.

Revenues generated in France are down by -23.8% from 305.5 million Euro in Q3 2008 to 232.8 million Euro in Q3 2009, while revenues outside France are down by -14.3% to 21.9 million Euro.

Temporary employment revenues were down by -23.1% to 254.7 million Euro, multi-services down by -9% to 136.9 million Euro, engineering and maintenance revenues are down by -13.7% to 12.5 million Euro and airport services are down by -10% to 33.1 million Euro. The company did not report the state of its profits in any of these areas.

CRIT say in a statement "let's remember that CRIT has obtained the contracts for the airport terminal CDG1, CDG2, Orly South and Orly West, which should create potential extra revenues of 50 million Euro over the period of one year."

"By the end of the financial year of 2009, the group should also be able to benefit from the 10 million Euro of cost savings we have made so far."

In early trading Groupe CRIT's shares were down by -3.52% to 17.80 Euro.



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