Crit : Sector environment offers little visibility – target price adjusted to € 43 (vs € 45)
>First-half revenues down 34% (-52.7% in Q2) - Crit reported first-half revenues of € 814.1m (€ 772.3m estimated) vs € 1,232.4m, i.e. a fall of 33.9% and 34.2% organic. As expected, the release showed a sharp fall in revenues in Q2 of 52.7% to € 308.3m (€ 266.9m estimated) while Q1 revenues had already shown a decline of 13.2% (-13.6% organic). The temporary employment arm showed a fall of 31.7% and multiservices posted a decline of 45.4% largely affected by airport a...Groupe Crit provides HR solutions to companies. Co.'s activities are divided into three segments: Temporary employment and Recruitment; Airport services; and Other services. In the Temporary employment and Recruitment segment, Co.'s offering includes temporary employment, permanent placement, secondment, outsourcing, training and consulting. The Airport services segment includes all services performed on an airplane from its landing to its take-off such as services to passengers and airplanes. The Other services segment comprises services in engineering and maintenance, and miscellaneous activities. At Dec 31 2010, Co. operated 431 branches, and was the partner of more than 25,000 companies.
Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.
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