Groupe Crit SA, a Paris-based staffing provider and the fifth-largest staffing firm in France, reported third-quarter revenue of €875.4 million, an increase of 3.3% on a constant currency and organic basis. On a reported basis, revenue growth stood at 34.0%.

This increase includes a 30.7% scope impact related to the integration of Openjobmetis.

The 3.3% increase in Q3 was an improvement compared to the organic growth of 0.3% recorded over the first half of the year. Groupe Crit said this increase demonstrates the group’s agility in the face of persistently contrasting market conditions.

In France, revenue for the quarter reached €500.6 million, up 4.5% (3.3% on an organic trading days adjusted (TDA) basis compared to the same quarter of the 2023 financial year.

Internationally, the business said it is fully benefiting from the integration of Openjobmetis. The segment now represents 42.8% of the group’s revenue in Q3. At constant scope and exchange rates, international business was stable compared to 2023 (0.1% organic growth).

In temporary work (84.0% of total activity), third-quarter revenue was €735.4 million (excluding inter-segment eliminations), up 39.4% compared to the same quarter of 2023, including the scope impact of Openjobmetis integration. At constant scope and exchange rates, revenue was up 1.5% in a market context marked by weak economic growth.

In France (53.5% of the division’s activity), revenue for the quarter reached €393.1 million, up 3.1% compared to 2023. This organic growth was supported by industry, particularly aeronautics and agri-food), logistics and hotels & restaurants, while trade and construction remained in decline.

Internationally (46.5% of the division’s activity), revenue for the quarter amounted to €342.3 million, more than double (x2.3) of the activity achieved in the third quarter of 2023 thanks to the integration of Openjobmetis. At constant scope and exchange rates, international activity posted a 2.7% decline, with contrasting trends depending on the geographical areas considered.

In Italy, Openjobmetis’ proforma revenue in the third quarter was up 10.8% compared to the same quarter of 2023. This increase includes a 15.3% scope impact related to the integration of the Just on Business subsidiary since 1 January 2024.

In the US, the group continued to withstand market volatility well, supported by its Staffing Professional division as well as a better dynamic in permanent placements. Thus, in a market that is still down by 10.0%, revenue was €58.9 million, down 5.1% on an organic TDA basis. Groupe Crit’s US operations include Peoplelink Group.

In Spain, activity reached €36.2 million, up organically by 7.8%.

The Multi-Services Division (17.1% of activity for the period) generated quarterly revenue of €149.8 million (excluding inter-segment eliminations), up 13.0% compared to the same quarter of 2023.

Airport activities (77.9% of the division’s total revenue) generated revenue of €116.7 million in the past quarter, up 11.0% compared to the sales volumes achieved in the third quarter of 2023 (€105.2 million).

“Following on from the first half of the year, this long-term performance (14 consecutive quarters of double-digit organic growth) was driven by the solid momentum in France and the excellent performance of the International business, particularly in the United Kingdom and Ireland,” the company said in a press release.

“In a market environment that continued to tighten on temporary work both in France and abroad, the solid performance of the group’s activities during this quarter illustrates the quality of its service offering and the strength of its network in France and abroad, fully committed to achieving the group’s performance objectives,” the company stated.

Over the first nine months of the year, revenue amounted to €2.26 billion, up 20% and 1.4% on an organic basis.

For the year, the group confirmed its objective of exceeding the €3 billion revenue mark.

The group published its results yesterday after markets closed. As of last trade, Groupe Crit shares traded at €71.80, up 3.46% on the day and 10.25% below its 52-week high of €80.00, set on 27 December 2023. The company has a market cap of €780.75 million.