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France – Groupe Crit Q3 revenue falls

25 October 2012

Growth was slowing further at French staffing firm Groupe Crit (CRIT:PAR), the 14th- largest in the world based on revenue. The group reported on Wednesday that revenue in the third quarter fell by -3.3% to €388.1 million.

In the first nine months of the year, temporary staffing declined marginally by -1.2% to €933.8 million, compared to €945.1 million for the same period last year. The integration of US-based staffing company PeopleLink, acquired in September 2011, resulted in a +90.5% rise in international revenue to €144.5 million. International revenue now represents 15% of the group’s staffing revenue.

Year-to-date revenue in France declined by -9.2% to €789.2 million, compared to €869.2 million for the same period last year. “This is consistent with the slowdown in the French market, but also reflects the group’s decision to retain higher margins,” the firm said.

Groupe Crit is among the top five staffing firms in France, according to Staffing Industry Analysts’ research. It specialises in service provision split into three divisions: temporary employment & recruitment services; airport services; and engineering and maintenance.

In early trading this morning, the company’s share price was flat at €12.80, down -13.7% from a year ago and +29.03% above the 52-week low of €9.92 seen in November last year. The firm has a market value of €144.0 million.

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