Big family businesses Loblaw and Swatch reported comfortable growth for the first half of 2013 – although Swatch had a tough act to follow after last year's stellar results.
Big family businesses Loblaw and Swatch reported comfortable growth for the first half of 2013 – although Swatch had a tough act to follow after last year's stellar results.
Loblaw
The Weston family's Canadian grocery chain, Loblaw, announced revenues of CAD$7.5 billion (€5.5 billion) for the second quarter of 2013 – an increase of 2% compared to the same period last year – and a 14.1% increase in net earnings to CAD$178 million.
Remy Cointreau saw sales drop after a long run of steady growth, while L'Oreal and ABF had steady growth. In North America Hubbard Radio acquired 10 stations but Quebecor closed 11 newspaper titles.
Remy Cointreau saw sales drop after a long run of steady growth, while L'Oreal and ABF had steady growth. In North America Hubbard Radio acquired 10 stations but Quebecor closed 11 newspaper titles.
Remy Cointreau
Family-controlled French spirits group Remy Cointreau has seen its sales drop 2.3%, like-for-like, to €263.7 million in the three months ended June 30.
Amancio Ortega's Inditex struggled to match last year's growth in the first quarter of its fiscal 2013, H&M's second quarter sales shrank, while Remy Cointreau posted strong results.
Amancio Ortega's Inditex struggled to match last year's growth in the first quarter of its fiscal 2013, H&M's second quarter sales shrank, while Remy Cointreau posted strong results.
Revenue and profit figures for a number of big family businesses show parts of the global economy are still affected by weak demand, but News Corp posted a big profit rise.
Revenue and profit figures for a number of big family businesses show parts of the global economy are still affected by weak demand, but News Corp posted a big profit rise.
Bharti Airtel (2 May)
India-based telecommunications company Bharti Airtel had a difficult 2012 according to their full year results. Revenue increased 12% to Rs 803.1billion (€11.3 billion) but net profit fell 47% to Rs 22.8 billion – its lowest profit figure for seven years.
Good results news for Estee Lauder, MasTec, Marriott, McGraw Hill and Loblaw, tough times for Loews and Volkswagen.
Good results news for Estee Lauder, MasTec, Marriott, McGraw Hill and Loblaw, tough times for Loews and Volkswagen.
Estee Lauder (2 May)
Estee Lauder, the skin care company controlled by the eponymous family, announced 2% sales increases for the third quarter of 2013 to $2.29 billion (€1.7 billion).
But profits rose dramatically to $178.8 million, as the group's restructuring efforts of the past couple of years began to deliver cost savings.
Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.
Kering and Ford record mixed results for the first quarter of 2013, with figures varying greatly by region and division; Pernod Ricard reported growth in its third quarter.
PPR/ Kering
In Paris, luxury and lifestyle group Kering said revenues rose €2.4 billion, up 3.1% on a comparable basis to the first quarter of 2012.
Turnover from its sport and lifestyle division fell 2.5%, mainly due to slow sales at Puma, but revenues at Kering's luxury division grew 6.4%, with growth in all geographic regions.
ABS and Hermes reported strong first-quarter results, bolstered by demand for luxury and budget garments. But South African Pick n Pay and German Heineken fared less well, with growth in profits falling.
ABS and Hermes reported strong first-quarter results, bolstered by demand for luxury and budget garments. But South African Pick n Pay and German Heineken fared less well, with growth in profits falling.
Associated British Foods
Associated British Foods posted strong results for the first quarter of 2013, with revenue increasing 10% to £6.3 billion (€4.2 billion), compared with the same period last year, and operating profit rose 20% to £496 million.
A number of European family businesses post good results, including Remy Cointreau and LVMH. But profits take a hit at Exor.
A number of European family businesses post good results, including Remy Cointreau and LVMH. But profits take a hit at Exor.
Remy Cointreau
Remy Cointreau – controlled by the Heriard Dubreuil family – said revenue was up 16.3% to €1.2 billion in its financial year the end of March. It is its second year in a row of double-digit growth, after achieving revenue growth of 13% in fiscal 2011.
Versace powers ahead on strong luxury demand, possible listing. Across the Atlantic, hospitality group Carlson and retailer Loblaw reported slow revenue growth.
Versace powers ahead on strong luxury demand, possible listing. Across the Atlantic, hospitality group Carlson and retailer Loblaw reported slow revenue growth.
Versace
On the back of strong sales growth, the family controlled Versace said it is looking at a possible sale of a stake in the business or an initial public offering to raise money for expansion and pay off debt.
Some of Europe’s best-known family businesses reported a mixed bag of results recently, with the luxury groups unsurprisingly notching up the highest growth.
Some of Europe’s best-known family businesses reported a mixed bag of results recently, with the luxury groups unsurprisingly notching up the highest growth.
