Groupe Crit (CEN: PAR) reported revenue surged in the second quarter thanks to its acquisition of Italian staffing firm Openjobmetis on 24 April. Excluding the deal, revenue at Groupe Crit’s French temporary staffing operations held steady, and international staffing revenue fell. Growth did take place in the Paris-based company’s multiservices division, which includes airport services.

Total second-quarter revenue at Groupe Crit rose 23.7% to €807.9 million (US$865.4 million) when including the acquisition of Openjobmetis. However, revenue was up just 0.6% on an organic basis.

Temporary staffing represents 83.6% of Groupe Crit’s total revenue, though temp staffing revenue fell 1.5% on an organic basis to €675.8 million (US$723.9 million).

• In France, according to the company, temp staffing revenue held steady on an organic and trading days adjusted basis at €384.7 million (US$412.1 million). The aeronautics, agrifood, and logistics industries helped the business hold up in France; however, the company noted that hotels, restaurants, and construction remain in decline.
• International staff operations benefited significantly from Openjobmetis in the second quarter. Revenue rose 99.1% year over year to €291.1 million (US$311.8 million). Excluding Openjobmetis, revenue declined 4.2%. Proforma revenue at Openjobmetis was up 12.2% year over year in the second quarter.
  • US temporary staffing revenue fell 3.9% on an organic, trading days adjusted basis to €62.0 million (US$66.4 million). The company noted that the US market remains volatile. Groupe Crit’s US operations include Peoplelink Group.
  • Temp staffing revenue from Spain was stable at €34.0 million (US$36.4 million).

Second-quarter revenue at Groupe Crit’s multiservices division rose 11.2% year over year to €141.7 million (US$151.8 million).

Share Price

Shares in Groupe Crit closed up 0.31% to €65.40 (US$71.07) on July 24, 5.83% above their 52-week low.