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France – Groupe Crit buoyed by domestic success

24 October 2013

French recruitment firm Groupe Crit (CEN: FP) yesterday reported revenue of €423.9 million for the three months ending 30 September 2013, an increase of +9.2% compared with €388.1 million a year ago, a rise of +5.3% in constant currency.

For the year to date, Groupe Crit reported revenue of €1.2 billion. An increase of +2.3% compared with the first nine months of 2012, when revenue was €1.1 billion. International revenue for the period rose by +31.5% to €224.5 million from €170.8 million.

The return to growth in France during the latest quarter is at the heart of the improved performance, with revenue increasing by +3.5%, year-on-year, to €338.8 million. During Q3 2013 International revenue increased by +40.5% to €85.2 million, a rise of +15.1% in constant currency.

Group revenue for temporary recruitment during Q3 2013 increased by +10% during Q3 2013, rising to €355.6 million. In France, there was a return to growth, with revenue increasing by +3.7% to €281.9 million.

Groupe Crit attributes the growing market share to the group’s business sector position, territorial coverage, and the diversification of its client portfolio.

Outside of France, revenue from temporary employment for the third quarter increased by +43.8% to €73.7 million. In the United States, the company continues to develop in ”a very favourable market” and posted revenue of +66%, a rise of 21.4% in constant currency.

Looking forward, the successful quarter has reinforced the Group’s confidence in the outlook for the coming months, both in terms of growth and increased profitability.

In trading yesterday, the company’s share price closed at €28.48, an increase of +128.5% compared with a year ago. Based on its share price, the company has a current market value of €326.6 million.         

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