Groupe CRIT net profit group share up 45%
Accelerated growth in France Solid growth abroad Group CRIT delivered excellent performance in H1, posting revenue of &euro918.6 million, up 16% compared to the same period in 2014 (11.8% on a like-for-like perimeter basis and constant change).
Both France and international contributed to this growth. International operations (24.3% of total H1 activity) increased by 30.1% to &euro223.1 million. Staffing and recruitment division: double digit growth in France and abroad H1 revenue in Staffing and recruitment operations (84.5% of total activity) grew by 17.4% (12.4% on a like-for-like perimeter basis and constant change) to &euro776.6 million (2).
In France, on a market growing by 3.2% (6 months ended June source : Prism’emploi), the Group continues to gain market share with revenue amounting to &euro574.8 million, posting an organic growth up 12.5%. Staffing international operations grew strongly in H1 with revenue up 33.9% to &euro201.7 million (12.0% on a like-for-like perimeter basis and constant change), boosted by the activity in the United-states and Spain. In Spain, H1 revenue amounted to &euro 42.9 million, increasing by 32.9%.
In the United-States, H1 revenue grew by 37.8% to &euro136.6 million (5.4% on a like-for-like perimeter basis and constant change). Multiservices division : leadership confirmed in Airport services The multiservices division posted half-year revenue of &euro150.6 million(2) up 8.1%. In Airport services (74.2% of activity for this division), half-year revenue grew by 8.4% to &euro111.8 million boosted by the activity in France rising by 9.8% despite a drop of 0.8% in air trafic during the period (source ADP). Press release September 8th, 2015 Increase in results H1 current operating income rose by 25.2% to &euro42.7 million. Current operating margin represents 4.7% of revenue in comparison to the 4.3% in H1 2014.
French operations growth, together with the tax credit for competitiveness and employement (CICE) and the contribution of international business, contributed to these strong results. In the Staffing and recruitment division, H1 current operating income rose by 16.9% to &euro37.1 million.
Current operating margin is stable and represents 4.8% of revenue. Multiservices division also made a positive contribution to the half-year results with current operating income multiplied by 2.4 to &euro5.6 million. Current operating margin doubled and represents 3.7% of revenue in comparison to the 1.7% in H1 2014.
Due to these excellent performances, net profit Group share increased by 48.7% to &euro33.0 million. A strong financial structure At the end of June 2015, with a cash flow (before change in working capital, cost of net debt and income tax) of &euro31.7 million, an equity of &euro324.1 million and net cash of &euro14.8 million (incl. CICE), the group benefits from a solid financial structure to fully support its development.
Outlook France : performance confirmed International : all indicators are positive In France, the Group is confident in its capacity to confirm its growth dynamic in the coming months. This confidence is reinforced by the high level of activity in July and August which continues to outperform the staffing market gradually improving over the months. Abroad, the outlook is also favourable.
In the US, the group is expected to post strong organic growth in a still buoyant market. In Spain, the sustained growth in activity is expected to continue and fully benefit from the strong economic prospects. As a result of these factors, the Group confirms its confidence for the full year 2015.