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March 7, 2014

An acquisition drive led by the fourth gen head of food group Baxters has resulted in profits dropping 61% for the 2013 financial year, ending June last year.

An acquisition drive led by the fourth gen head of food group Baxters has resulted in profits dropping 61% for the 2013 financial year, ending June last year.

Scottish-based WA Baxter & Sons, the parent company of Baxters, reported pre-tax earnings of just £1.8 million, despite it’s total revenues rising 15% from the previous year to £157 million.

The company’s pre-tax earnings in the 2012 financial year had been £4.6 million, and £7.1 million for 2011.

Family business roundup: Bouygues, Exor, Ferragamo, Merck, Sodexo, Saras results

November 18, 2013

Italian family businesses Exor and Ferragamo both saw dramatic increases in profit in the third quarter of 2013, while revenue at Italian refinery business Saras was badly hit by the falling price of oil.

Bouygues
French telecommunication and construction company Bouygues, controlled by the eponymous family, reported third-quarter sales of €9,048 billion – level with the same period last year, but revenues for the first nine months of 2013 dipped 1% to €24,255.

Family business roundup: Lagardere, News Corp, Henkel and Richemont results

November 13, 2013

Lagardere reports sales are down, while News Corp, Henkel and Richemont all saw net profits rise for the third quarter – despite currency fluctuations hitting revenues.

Lagardere
French publishing, media and travel group Lagardere, controlled by the eponymous family, said sales were down 2.9% to €1.9 billion for the third quarter of 2013, and revenues for the first nine months of the year fell by 1.1% to €5.3 billion.

Family business roundup: ABF, BMW, MasTec, Marriott and Loews results

November 5, 2013

ABF see better-than-expected annual results despite reputation issues, BMW report a slight third-quarter dip, good news at MasTec and Marriott, while Loews has a difficult three months.

Associated British Food
ABF – the food, ingredients and retail group controlled by the Weston family – saw strong results for the fiscal year ended 14 September, with revenues up 9% to £13.3 billion compared to 2012.

Family business roundup: Wacker Chemie, Volkswagen; Jeronimo Martins, Luxottica, AB InBev

November 1, 2013

Revenues down at Wacker Chemie as they drop prices to remain compeititive and Volkswagen blames the integration of Porsche’s revenue streams last year for its significantly lower sales results for the first nine months of 2013. Jeronimo Martins, Luxottica and AB InBev all see positive results.

Wacker Chemie
Munich-based Wacker Chemie, manufacturer of polysilicon – a vital material for solar panels – reported a 3% drop in revenues to €1.17 billion for the third quarter of the year compared to the same period last year.

Family business roundup: Hermes, Ferragamo, Folli Follie, Exor

August 30, 2013

Hermes surprises with strong profits for the first half, while Ferragamo and Folli Follie also see profits up. Exor sees profits soar due to SGS sale.

Hermes
Strong demand for leather and silk accessories has seen French luxury group Hermes beat forecasts for its first half operating profit, up 14% to €584 million.

The fashion group said growth was balanced in all regions, with Asia ex-Japan and the Americas both seeing growth of 17% compared to the previous year.

Family business roundup: Heineken, Smucker's and Schmoltz + Bickenbach results

August 22, 2013

Dutch brewers Heineken saw profits drop despite slight revenue rises, while Germany-based steel manufacturer Schmolz + Bickenbach posted sharp losses. In the US, condiments company Smucker's published a strong first half.

Heineken
Netherlands-based brewery Heineken announced revenue increases of 3% to €10.4 billion in its 2013 half-year results. Net profit, however, fell by 17% to €639 million.

Family business round up: ERG, Italmobiliare, BMW and Titan Cement

August 7, 2013

Wind power boosts Italian energy group ERG, revenue is down at Italmobiliare Group, BMW brand performs well for BMW Group and Greece-based Titan Cement performs well despite economic woes at home.

ERG

Wind power has boosted core earnings at Italian energy group ERG, up 29% to €120 million in the second quarter.

Family business roundup: AB-InBev, Volkswagen, Jeronimo Martins, Wacker Chemie, Amkor Technology

August 1, 2013

Premium beer helps Anheuser-Busch InBev’s profits, Volkswagen increases share of car market, Polish market not as strong for Jeronimo Martins and slowdowns in solar and smartphone markets hit Wacker Chemie and Amkor Technology respectively.

Anheuser-Busch InBev

Family-controlled Belgian brewer Anheuser-Busch InBev has seen second quarter earnings rise 3.9% year-on-year to $10.6 billion ($8 billion). Revenue for the first half was $19.8 billion, up 2.7% on the previous year.

Family business roundup: growth for luxury fashion brands, Luxottica, and Ford

July 29, 2013

LVMH and Kering’s luxury brands perform strongly, sunglass retailer Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH and Kering’s luxury brands perform strongly, sunglasses empire Luxottica breaks €2 billion revenue for the second quarter, and Ford sees strong sales in North America and Asia-Pacific/Africa.

LVMH

Bernard Arnault’s LVMH has announced half year revenues of €13.7 billion, with organic revenue growth up 8% compared to the same period last year.

The group said it continues to experience strong momentum in Asia and the US, and continued to grow in Europe despite economic uncertainty.