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Family business roundup: The way is up for Estee Lauder, Hyatt and Astral

November 1, 2012

Family businesses in North America appear to be battling the ongoing economic turmoil well, with three companies reporting growth in revenues and profits.

Cosmetics giant Estee Lauder, majority owned by the founding family, said on 1 November that revenues for the first fiscal quarter ending 30 September rose by 3% to $2.55 billion (€2 billion).

Net earnings at the New York-based group also rose to $312 million – an 11% increase.

Family business roundup: A mix of big ups and big falls for ArcelorMittal, Ford and Cir

October 31, 2012

Economic woes are no doubt having an impact on the performance of family businesses around the world, but some companies are posting figures that are simply poles apart.

ArcelorMittal, the family-controlled steel and mining company, said sales fell to $19.7 billion (€15.1 billion) for the third quarter of 2012, from $24.2 billion for the same period last year.

Family business roundup: Samsung, America Movil, PPR and Pernod Ricard post good results, while Paccar sees a fall

October 29, 2012

Family businesses around the world have reported mixed quarterly figures, with Samsung and America Movil seeing rises in sales and profits, while Paccar has witnessed a fall in revenues.

Samsung Electronics, which is the world’s biggest technology company by sales, had a record-breaking third quarter with operating profit reaching an all-time high of 8.12 trillion won (€5.74 billion) – up 91% on the same period last year – while revenues hit 52.18 trillion won, a 26% increase.

Family business roundup: Profits fall at VW and Santander, rise slightly at Heineken

October 25, 2012

Tough trading conditions are continuing to take their toll on family businesses in Europe, with profits falling at Volkswagen and Santander.

Carmaker Volkswagen, which is controlled by the Porsche and Piech families, had a particularly tough third quarter, with operating profits falling to €2.3 billion – down 19% on the same period last year. It came on the back of a 26.8% rise in revenues during the quarter.

Family business roundup: Tata revenues hit $100 billion, sales up at Schwan-Stabilo, Remy Cointreau and Trumpf

October 22, 2012

A broad mix of family businesses have reported strong results, with Indian conglomerate Tata, drinks company Remy Cointreau, pen-maker Schwan-Stabilo and industrial firm Trumpf all seeing rises in sales.

In Asia, Tata, currently headed by family member and Indian business stalwart Ratan Tata, said its revenues for the year to March 2012 were $100.09 billion (€76.6 billion). The company saw a 20.1% rise in revenues to reach the $100 billion milestone for the first time.

Family business roundup: Cargill, Kuehne+Nagel and H&M post good results

October 15, 2012

It’s been a good start to the week for two family businesses in Europe, with logistics company Kuehne+Nagel and fashion retailer H&M posting revenue increases, while agricultural giant Cargill recently saw its profits grow by 300%.

Switzerland-based Kuehne+Nagel said on 15 October that revenues rose by 12.4% to CHF3.9 billion (€3.2 billion) during the quarter to 30 September. This was mainly thanks to good performances at the company’s seafreight and airfreight divisions.

Family business roundup: Profits jump at Barbour’s and Samsung, fall at William Grant and Walkers

October 8, 2012

Family-controlled fashion house Barbour’s saw its profit jump by more than 50% in 2011, while a number of other British family businesses have reported yearly revenue increases.

In the UK, Barbour's, the fashion house famous for its iconic waxed coats, said its pre-tax profits jumped by 51% to £17 million (€21 million) in 2011.

Family business roundup: Revenues jump at Prada and H&M, drop at Fiat

October 1, 2012

From British car dealer Arnold Clark Automobiles to fashion retailers Hennes & Mauritz and Prada, a number of family businesses in Europe have recently posted positive financial results, while Italian carmaker Fiat has seen its sales in the continent drop.

Glasgow-based Arnold Clark, which is controlled by the founding Clark family, said on 28 September that its 2011 profits rose by 2.4% to £51.7 million (€64.7 million), compared to £50.5 million in 2010.

Family business roundup: German drugmaker and Canadian holding company see growth

September 14, 2012

The family behind Canada’s Empire Company has seen an increase in revenues for the first quarter of the fiscal year, while Germany’s Grunenthal has been buoyed by a huge rise in its half-yearly earnings.

Empire, the holding company controlled by the Sobey family, said on 13 September that sales for the three months ending 4 August rose by 9.7% to $4.56 billion (€3.5 billion).

Family business roundup: Profits up at Lego, Hermes and Bertelsmann

August 31, 2012

It’s been an upbeat week for family businesses Lego and Hermes as strong consumer demand for their popular products boosted half-yearly sales and earnings.

It’s been an upbeat week for family businesses Lego and Hermes as strong consumer demand for their popular products boosted half-yearly sales and earnings. Meanwhile, media company Bertelsmann had mixed results for the same period, with healthy net profits but lower operating earnings.