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France – Groupe Crit revenues up in Q2 helped by growth of international businesses

25 July 2013

French recruiter Groupe Crit (CRIT: PAR) announced revenue of €391.3 million for the second quarter of 2013, up from €385.8 million for the same period last year, equating to an increase of +1.4%. Groupe Crit is the fourth largest staffing firm in France, according to research by Staffing Industry Analysts

Permanent and temporary recruitment sales rose +1.1% during the second quarter to €324.3 million; after falling -5% in the previous quarter.    

Sales in France, accounting for nearly 81% of total turnover, performed better in Q2 2013, falling by -4.3%; compared with a drop of -10.4% in the first quarter of the year. Sales revenue for France equated to €260.9 million during Q2 2013, a drop of -4.3% against an average market drop of -9.5% estimated by PRISME.

International sales revenue increased +30%, rising from €57 million in Q2 2012 to €74.1 million in the second quarter of this year. This increase was primarily driven by investment in the North American markets, where sales increased +50% to €40.5 million during the second quarter. Groupe Crit purchased three US-based staffing firms in the second half of 2012. International sales now account for 19.2% of total revenue.

Looking forward Groupe Crit stated: “These positive developments will enable the Group to approach the second half of the year with confidence; in terms of both activity and results. The success in the United States also reinforces the Group’s desire to implement new operational acquisitions to establish its presence in this market.”

The company’s share price opened at €18.85, a drop of -0.05% on the day, but an increase of +51.95% compared with a year ago. Based on its current share price, the company has a current market value of €212.06 million. 

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