PARIS: French staffing firm Groupe Crit (CEN: FP) reported revenue for the fourth quarter ending 31 December 2016 of €556.5 million, an increase of 10.2% on a like-for-like basis compared with €500.7 million during the same period last year.
In 2016, Groupe Crit set a record year achieving over €2.1 billion in revenue, up 10.3% on a like-for-like basis, exceeding its €2 billion revenue target.
The staffing & recruitment division, which accounted for 85.3% of total revenue, posted annual revenue of €1.83 billion. The fourth quarter fully contributed to this dynamic with revenue increasing by 11.4%, in real terms, to €477.1 million.
French operations recorded an organic growth of 14.1% in 2016, with €1.4 billion in annual revenue.
For the fourth consecutive year, the group continues to gain market share, driven particularly by its positions in the industrial sector. Revenue growth in the fourth quarter for French operations amounted to 13.9% in real terms, to €363.5 million.
International staffing annual revenue amounted to €437.3 million, up 3.3% on the year, in real terms. Spanish operations continued their growth momentum with annual revenue up 16.6%, in real terms, to more than €105 million. In the United-States, revenue remained in line with 2015 at €285.9 million. Meanwhile, fourth quarter international staffing grew by more than 4% in real terms, to €113.6 million.
In 2016, the Multi-services division annual revenue amounted to €334.5 million, rising by 7.2%, in real terms. Fourth quarter revenue increased by 10.3% to €84.7 million. Airport activities (73.2% of activity of the Multi-services division) continue to perform well with annual revenue of €244.9 million, up 5.8%, in real terms. The fourth quarter grew by 8.5%, driven by the activity in France posting growth up 11.6%, in real terms.
In 2016, Groupe Crit acquired TeamSoft Inc. The group states that in this market, it will intend to pursue its voluntary acquisition strategy over the next few months.
Groupe Crit also announced plans to acquire Cobalt Ground Solutions, which it completed in January of 2017.
The group states that for 2017, all the indicators are positive. In France, Groupe Crit predicts that it should continue to benefit from good market conditions.
As of last trade, Groupe Crit traded at €74.97, up 1.71% on the day and 2.38% below its 52-week high of €76.80, set on 17 January 2017. Based on its current share price the company has a market value of €829.24 million.
